AICPA Economic Crisis and Recovery Center

Valuations for Financial Reporting in Today's Market

The current economic environment has presented unprecedented circumstances for members of the business valuation profession. Those who perform valuations for financial reporting are grappling with issues surrounding impairment, market capitalization versus fair value determinations, reasonable rates of return, and active versus distressed and inactive markets, to name a few.

The JofA hosted a virtual round-table discussion with valuation professionals from the financial reporting sector to gauge how they are handling such issues in today’s climate and what their outlook is for the near future.

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FASB Approves New Mark-to-Market Guidance

Exactly three weeks after FASB Chairman Robert Herz’s March 12 testimony before a rancorous House Financial Services subcommittee, the independent standard-setting board voted Thursday, April 2, to release three new pieces of guidance to address concerns over the application of fair value accounting standards in current market conditions.

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Weathering the “Other-Than-Temporary” Impairment Storm

Given the highly unusual market conditions in recent months and recent guidance issued by FASB, companies are struggling to understand and properly apply accounting guidance to their investment securities. Two experts provide tips for improving such evaluations under new FASB Staff Position, EITF 99-20-1, Amendments to the Impairment Guidance of EITF Issue No. 99-20, published Jan. 12.

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Valuation of Distressed Companies

Valuation is often an issue for companies in a Chapter 11 proceeding or for companies contemplating a sale in a distressed environment. The valuation issues in a distressed environment can be complex and challenging. This archived session, presented by the AICPA's Forensic and Valuations Services Section, addresses the various valuation complexities and issues confronting an appraiser.

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Find out more information on the AICPA Forensic and Valuation Services Section

The Forensic and Valuation Services (FVS) Center is designed to provide CPAs a vast array of resources, tools, and information about Forensic and Valuation Services (FVS) in one convenient location.  The FVS Center serves CPAs who hold the ABV and CFF specialty credentials, members of the AICPA FVS Section, AICPA members, and others.

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Deepening Insolvency: An Emerging Threat?

The deepening insolvency theory may create increased legal risk for auditors, particularly those who work with troubled businesses. In some cases, the theory may fuel additional scrutiny of the auditor’s consideration of an entity’s ability to continue as a going concern.

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