OD: Fair Value Accounting and Reporting: SFAS 157
Recorded July 31, 2008
FASB Statement No. 157, Fair Value Measurements (SFAS 157)defines fair value and expands disclosures yet does not require any new fair value measurements. At the beginning of this fiscal year institutions need to analyze and understand how the standard affects certain assets and liabilities – particularly investments, pledges, split-interest agreements, beneficial interests in trusts, and in-kind contributions.
This program will review related FASB literature, catch participants up on related AICPA activities, begin a documentation template, and have a panel discussion on the issues.
What You Will Learn:
- The drivers behind the accounting issues
- An awareness of challenges and actions that should be taken now
- An understanding of recommended documentation
- How Net Asset Value of investments relates to Fair Market Value
Who Should Participate?
- AVPs of Finance and Administration
- Business Officers at public institutions’ foundations
Meet the Presenters:
- John Mattie, Partner, PwC
- Sue Budak, FARM author, NACUBO FASB Advisor and AICPA Task Force
- Dale Larson, University of Dallas and NACUBO APC Chair
- Mike Greenstein, Partner, PwC
- Course Level: Advanced
- Length: 100 minutes
- Prerequisites: none