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Department:
Accountancy >
Course:
Fair Value and Measurement
ACC
542

Fair Value and Measurement

Hours

3.0 Credit, 3 Lecture, 0 Lab

Prerequisites

Accounting Research Seminar & 
Adv Financial Statemnt Auditng

Semester

Winter
Case-based course that examines theoretical and practical issues surrounding fair value and other measurement issues. Focuses on techniques used in practice for measuring financial instruments, acquisitions, revenue recognition, and asset impairments, among others.

Explain the concept of measurement

Students will explain the concept of measurement and how it applies to accounting situations.

Critique current measurement objectives and concepts

Students will critique the current state of measurement objectives and concepts in financial reporting standards.

Explain and evaluate the fair value vs. historical cost debate

Students will explain and evaluate the current debate between fair value measurement and historical costs.

Generate alternative measurement attributes

Students will generate alternative measurement attributes that could reasonably be used in real-world situations.

Recognize, recall, evaluate, and compare current measurement attributes in financial reporting.

Students will recognize, recall, evaluate, and compare the primary measurement attributes used in current financial reporting standards.

Implement measurement approaches in common scenarios

Students will implement measurement approaches in common scenarios such as revenue recognition, goodwill, allocation of purchase prices in acquisitions, asset impairment, fair value measurements, stock compensation, securitization models, loan loss reserves, and relief from royalty.

Increase confidence discussing and applying measurement approaches

Students will increase their confidence discussing and applying measurement approaches in various real-world settings.