{"product_id":"the-professionals-guide-to-fair-value-isbn-9781118004388","title":"The Professional's Guide to Fair Value","description":"\u003cb\u003eAn all-encompassing guide to the elements and basics of fair value\u003c\/b\u003e  \u003cp\u003eWith the important role fair value is playing in the creation of a converged set of global accounting standards, demand for products in this category is growing spectacularly. The elements and basics of fair value are covered, including risk, dealing with the SEC, and details on legal responsibility. In addition, sample financial statements are included, along with tables, recommended applicable techniques, and management checklists for those who are responsible for preparing and approving of financial statements.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eWritten by the Chairman and co-CEO of the International Association of Consultants, Valuators and Analysts (IACVA)\u003c\/li\u003e \u003cli\u003eIncludes sample financial statements of both U.S. and foreign companies\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAppropriate for anyone involved professionally with finance—managers, accountants, investors, bankers, instructors, and students—\u003ci\u003eThe Professional's Guide to Fair Value\u003c\/i\u003e is a reliable reference on the ins and outs of fair value financial disclosure.\u003c\/p\u003e  Preface xi  \u003cp\u003eAcknowledgments xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Significance of Value 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBusiness Uses for Valuation 2\u003c\/p\u003e \u003cp\u003eMergers and Acquisitions 2\u003c\/p\u003e \u003cp\u003eFinancial Reporting 3\u003c\/p\u003e \u003cp\u003eInvestment Bankers versus Valuators 8\u003c\/p\u003e \u003cp\u003eValuation Requirements 8\u003c\/p\u003e \u003cp\u003eLitigation Risks 9\u003c\/p\u003e \u003cp\u003eTen Commandments of Valuation 10\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Fair Value Concept 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRelevant Pronouncements 14\u003c\/p\u003e \u003cp\u003eDefinitions 14\u003c\/p\u003e \u003cp\u003eMarket Participants 15\u003c\/p\u003e \u003cp\u003eFair Value Accounting 16\u003c\/p\u003e \u003cp\u003eRevaluation under IFRS 16\u003c\/p\u003e \u003cp\u003eOther Types of Value 17\u003c\/p\u003e \u003cp\u003eValuation Principles 19\u003c\/p\u003e \u003cp\u003eReporting and Cash-Generating Units 20\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Fair Value Framework 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStage 1: Determine the Unit of Account 22\u003c\/p\u003e \u003cp\u003eStage 2: Evaluate the Premise of Value 24\u003c\/p\u003e \u003cp\u003eStage 3: Assess the Principal Market 29\u003c\/p\u003e \u003cp\u003eStage 4: Establish the Most Advantageous Market 30\u003c\/p\u003e \u003cp\u003eStage 5: Select Appropriate Valuation Methods 33\u003c\/p\u003e \u003cp\u003eStage 6: Estimate Fair Value Conclusions 37\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Taming the Future 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefinitions 42\u003c\/p\u003e \u003cp\u003eEffect of Market Participants’ Assumptions 43\u003c\/p\u003e \u003cp\u003eScenario Analysis 45\u003c\/p\u003e \u003cp\u003eScenario Implications 49\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Projecting What Is to Come 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBase the Future on the Past 54\u003c\/p\u003e \u003cp\u003eThe Truth Is in the Parts 56\u003c\/p\u003e \u003cp\u003eAvoid Unnecessary Risks 59\u003c\/p\u003e \u003cp\u003eGarbage In, Garbage Out 63\u003c\/p\u003e \u003cp\u003eBelievable and Likely Conclusions 66\u003c\/p\u003e \u003cp\u003eQuality of Earnings 67\u003c\/p\u003e \u003cp\u003eConclusion 68\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: The Market Approach to Fair Value 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNature of Markets 70\u003c\/p\u003e \u003cp\u003eClassifying Assets 72\u003c\/p\u003e \u003cp\u003eComparable Transactions 74\u003c\/p\u003e \u003cp\u003eGuideline Entities 76\u003c\/p\u003e \u003cp\u003eGuideline Entities Example 79\u003c\/p\u003e \u003cp\u003eLicensed Asset Example 82\u003c\/p\u003e \u003cp\u003eConclusion 84\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: The Cost Approach to Fair Value 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCurrent Replacement Cost 85\u003c\/p\u003e \u003cp\u003eDeductions 87\u003c\/p\u003e \u003cp\u003eIntegrating the Factors 90\u003c\/p\u003e \u003cp\u003eResidual Value 92\u003c\/p\u003e \u003cp\u003eUseful Lives 92\u003c\/p\u003e \u003cp\u003eValuing Intangible Assets by the Cost Approach 97\u003c\/p\u003e \u003cp\u003eConclusion 103\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: The Income Approach to Fair Value 105\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCapitalization Methods 106\u003c\/p\u003e \u003cp\u003eIncome Approach—Discounting 110\u003c\/p\u003e \u003cp\u003eTerminal Amounts 115\u003c\/p\u003e \u003cp\u003eApplication to Intangible Assets 116\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Sources of Value—Profits 121\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStructure of Businesses 121\u003c\/p\u003e \u003cp\u003eInnovation 122\u003c\/p\u003e \u003cp\u003eDuPont Analyses 129\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Sources of Value—Risks 135\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReducing Risks 136\u003c\/p\u003e \u003cp\u003eContinual Monitoring and Testing 136\u003c\/p\u003e \u003cp\u003eDealing with Biases 138\u003c\/p\u003e \u003cp\u003eRisk Rate Component Model 139\u003c\/p\u003e \u003cp\u003eIntellectual Capital Value Drivers 146\u003c\/p\u003e \u003cp\u003eConclusion 147\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Valuing Liabilities 149\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLiabilities Transferred Rather Than Settled 150\u003c\/p\u003e \u003cp\u003eAsset Retirement Obligations 157\u003c\/p\u003e \u003cp\u003eContingent Liabilities 158\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Business Combinations 161\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDo Mergers Pay Off? 162\u003c\/p\u003e \u003cp\u003eWhy Merge? 163\u003c\/p\u003e \u003cp\u003eDetermination of Synergies 166\u003c\/p\u003e \u003cp\u003eIntrinsic and Investment Values 167\u003c\/p\u003e \u003cp\u003eQuantification 167\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Purchase Price Allocation 173\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStage 1: Determine the Acquirer 174\u003c\/p\u003e \u003cp\u003eStage 2: Establish the Consideration’s Fair Value 176\u003c\/p\u003e \u003cp\u003eKnowledge of the Industry 178\u003c\/p\u003e \u003cp\u003eStage 3: Identify All the Items Involved 180\u003c\/p\u003e \u003cp\u003eStage 4: Select Appropriate Valuation Techniques 188\u003c\/p\u003e \u003cp\u003eStage 5: Estimate Fair Values and Reconcile Rates of Return 190\u003c\/p\u003e \u003cp\u003eConclusion 192\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Impairment 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReporting Units 194\u003c\/p\u003e \u003cp\u003eCash-Generating Units 196\u003c\/p\u003e \u003cp\u003eGoodwill 197\u003c\/p\u003e \u003cp\u003eAllocations 198\u003c\/p\u003e \u003cp\u003eGAAP Long-Lived Assets Impairment Test 198\u003c\/p\u003e \u003cp\u003eIFRS Impairment Test 200\u003c\/p\u003e \u003cp\u003eGAAP Goodwill Impairment Test 202\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: The Auditor’s Blessing 207\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAuditing Fair Values 208\u003c\/p\u003e \u003cp\u003eConclusion 220\u003c\/p\u003e \u003cp\u003eAbout the Author 221\u003c\/p\u003e \u003cp\u003eIndex 223\u003c\/p\u003e  \u003cp\u003eJames P. Catty has been engaged in business valuations around the world for more than fifty years and has undertaken speaking engagements in China, Germany, Romania, Taiwan, Turkey, the U.K., and the U.S. He is Chairman of the International Association of Consultants, Valuators and Analysts (IACVA); President of Corporate Valuation Services Limited (CVS), Toronto; and of counsel to Hanlin Moss, PS in Seattle, Washington, and Xi'an, China. Catty is the author of the Wiley Guide to Fair Value under IFRS.\u003c\/p\u003e  \u003cp\u003eThe Professional's Guide to Fair Value The Future of Financial Reporting\u003c\/p\u003e \u003cp\u003eOver the past ten years, fair value has been growing in importance, with the concept undergoing substantial changes and refinements. On May 12, 2011—a red-letter day in financial reporting history—the Financial Accounting Standards Board (FASB) issued a revision of ASC 820, Fair Value Measurements, and the International Accounting Standards Board (IASB) issued International Financial Reporting Standard (IFRS) 13, Fair Value Measurement. These virtually identical documents gave the financial world a single definition and framework uniting Generally Accepted Accounting Principles (GAAP) in the United States with IFRS. Written to keep you abreast of these recent changes and major revisions, The Professional's Guide to Fair Value provides all the essentials you need to comprehend, assume responsibility for, and sign off on financial statements with confidence.\u003c\/p\u003e \u003cp\u003eAuthor James Catty—who has created methodologies and models for valuations acceptable to the SEC, Canadian Stock Exchanges, NASDAQ, and London Stock Exchange—shares his more than fifty years of global business valuation experience to provide you with the current elements and basics of fair value. The Professional's Guide to Fair Value walks you through most fair value financial reporting topics, including risks, dealing with auditors, and your responsibilities as they relate to fair value.\u003c\/p\u003e \u003cp\u003eOriented toward CPAs, auditors, valuators, boards of directors, investors, and bankers—anyone who needs to approve and\/or understand financial statements??—this one-stop definitive resource for the most current fair value applications covers:\u003c\/p\u003e \u003cul\u003e \u003cli\u003e \u003cp\u003eValuation principles\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe effect of market participants' assumptions\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eProjecting what is to come\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eHow to avoid unnecessary risks\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eBelievable and likely conclusions\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe nature of markets\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eComparable transactions\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eCurrent replacement cost\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eSources of value: profits and risks\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eValuing liabilities\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eQuantification of synergies\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eGAAP Long-Lived Assets Impairment Tests\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eIFRS Impairment Test\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eGAAP Goodwill Impairment Tests\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eAuditing fair values\u003c\/p\u003e \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eEvery entity, whether a corporation, trust, partnership, limited or unlimited company, or even a proprietorship, is likely to have at least one intangible asset on its balance sheet. Make sure all your assets are accurately valued with The Professional's Guide to Fair Value.\u003c\/p\u003e  \u003cp\u003eSign off on financial statements with confidence with the professional guidance found in The Professional's Guide to Fair Value\u003c\/p\u003e \u003cp\u003eWhen considering a substantial business deal—whether a major expansion, significant acquisition, plant closure, or considerable divestiture—a go\/no-go decision has to be made, based on a bottom line calculated from sometimes inadequate information. The key questions you need to answer are: how much value will be created, and for whom? Learn how to skillfully assess and report your answers with The Professional's Guide to Fair Value.\u003c\/p\u003e \u003cp\u003eBased on the recent substantial changes to fair value rules as well as author James Catty's fifty years in business valuations around the world, The Professional's Guide to Fair Value provides the elements and basics of fair value, allowing you to grasp all the applicable elements and adhere to them as required. This comprehensive resource helps you understand the basics so that you may understand financial statements with certainty.\u003c\/p\u003e \u003cp\u003eFilled with sample financial statements, tables, recommended applicable techniques, and checklists, The Professional's Guide to Fair Value reviews:\u003c\/p\u003e \u003cul\u003e \u003cli\u003e \u003cp\u003eThe ten commandments of valuation\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe fair value concept\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eReporting and cash-generating units\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe six stages of fair value: a framework\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eProjecting what is to come\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe market, cost, and income approaches to fair value\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eSources of value\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eValuing liabilities\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eMergers\u003c\/p\u003e \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eDon't let uncertainty sabotage the value of your assets. The Professional's Guide to Fair Value helps you achieve uniformity and consistency in valuation and financial reporting.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990321479909,"sku":"NP9781118004388","price":95.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118004388.jpg?v=1761787348","url":"https:\/\/k12savings.com\/es\/products\/the-professionals-guide-to-fair-value-isbn-9781118004388","provider":"K12savings","version":"1.0","type":"link"}