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The accounting and reporting for financial instruments has been a significant area of focus for standard setters, investors, and other accountants for many years. This focus has been heightened by the renewed debate over fair value accounting and its impact on the financial crisis which began in 2007. Generally accepted accounting principles require most financial instruments held by companies to be either recorded or disclosed at fair value in the financial statements, however, these requirements can apply differently to entities depending on their industry, size, and nature of operations. The determination of fair value for such instruments can involve significant judgment and have significant impact on the financial statements.
This course focuses on the reporting and disclosure requirements for financial instruments, including:
Reporting and disclosure requirements for financial instruments
Application of the fundamentals of ASC 820, Fair Value Measurement, to certain financial instruments
Common fair value techniques used by companies and pricing services
Fair value issues associated with employee stock ownership plans