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American Society of Appraisers Offers Webinar on International Financial Reporting Standards

We’ve spoken at length in previous blog posts about the upcoming shift in accounting standards from Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS). It’s a complex and sometimes confusing subject that will affect all certified appraisers in some way.

The American Society of Appraisers has announced a webinar titled “Fair Value Measures Including Mark-to-Market.” It’s a 90-minute session that will focus on financial reporting under IFRS, and highlight how the gradual shift to a fair-value based accounting system will affect valuation practices.

Topics will include the following:

An orientation for participants on how the accounting standards, along with the attempts to converge the United States and international accounting standards, are relevant to them and their practice

The definition of fair value

The roles of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB)

An update on the current status of U.S. accounting standards and the timeline for convergence

The current requirements for valuers under financial reporting standards

The various valuation disciplines that are involved in financial reporting and how they interact

Practical examples to illustrate financial reporting valuations and how they can be applied in professional valuer practice

The webinar will start at 1 p.m. EST on March 16, 2011. For more information and to register, visit the ASA website.

Present Value LLC is a worldwide international appraisal and advisory company that provides a range of professional services such as Certified Machinery and Equipment Appraisals, Inventory Appraisals, Asset Verification Services, Business Valuations, and Real Estate Appraisals. Contact us today!

By: Present Value

Additional Reading

GAAP and IFRS

More International Financial Reporting Standards (IFRS) Information Is Available

SEC: Companies Will Need Time to Adopt International Financial Reporting Standards (IFRS)

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