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FAIR VALUE MEASUREMENT
Practical Guidance and Implementation
"Writing Fair Value Measurement was a monumental task fraught with controversy not only in the U.S., but also abroad. Having coauthored a book with Mark as well as written one myself, I was even more impressed that Mark was able to navigate these fair value minefields and produce a work that will be a tremendous help to accountants and non-accountants alike. If you are looking for a 'one-stop' book on fair value measurement, this is it!"
—Neil J. Beaton, CPA/ABV, CFA, ASA, Managing Director, Valuation Services, Alvarez & Marsal
"In recent years, the FASB and the IASB have added many requirements for various assets and liabilities to be measured at fair value. In this book, Zyla clearly describes how to implement fair value measurement and how investors and creditors should interpret it. The crisp writing and illuminating analysis will help readers to grasp the essence of fair value accounting and to apply it wisely."
—J. Edward Ketz, Associate Professor of Accounting, Pennsylvania State University
"The focus of the book is on fair value measurement based on level 3 inputs. This is a critical area of valuations for financial reporting due to a false comfort given by routine application of evaluating models and assumptions without real possibilities of calibration. Mark Zyla offers an extraordinary help in understanding the reliability of the inputs and the outputs of the different methodologies and the inherent biases in each of them. The book is a precious support for better valuation both in U.S. GAAP and in IFRS fair value reporting."
—Mauro Bini, Full Professor of Corporate Finance, Bocconi University; Chairman, Management Board OIV (Organismo Italiano di Valutazione) Essential guidance on the fair value measurement process
Now in a second edition, Fair Value Measurement: Practical Guidance and Implementation helps you succeed in understanding the fair value accounting rules that entities must follow. The result is a resource that you can rely on to understand the importance of valuation and the concepts that define it. In basic, nontechnical language, author Mark Zyla presents practical direction for best practices of financial valuation as well as for understanding the many FASB pronouncements involving fair value. An essential guide for auditors and valuation specialists, Fair Value Measurement: Practical Guidance and Implementation, Second Edition brings you up to speed on what fair value really means.
I liked this book very much as it is written in plain English in a manner that even a person with non-accounting background can easily understand fair value measurement.
The examples (cases) in the appendices to several of the chapters are a good addition, which improves on the 1st addition, moving me up from 3 stars to 4 starts. The new chapter on contingent consideration is well done, as is the expanded chapter on advanced valuation methods (real options are an important topic that has not received enough attention by the financial reporting community). I have two suggestions for further improvement. First financial instruments commonly used by non-financial companies are not covered. I'd suggest coverage of employee stock options and other awards. And, I'd suggest coverage of common derivatives used as hedges, such as interest rate swaps, forward sale/purchase contracts and futures. Second, I'd suggest the addition of an "auditing/documentation considerations" section at the end of each chapter. Even for company management, the auditing requirements are important, as the entity's financial staff needs to prepare appropriate documentation to support their conclusions.
Product Details :
- Series: Wiley Corporate F&A (Book 634)
- Hardcover: 568 pages
- Publisher: Wiley; 2 edition (November 13, 2012)
- Language: English
- ISBN-10: 111822907X
- ISBN-13: 978-1118229071
- Product Dimensions: 1.9 x 6 x 9 inches
More Details about Fair Value Measurement: Practical Guidance and Implementation (Wiley Corporate F&A), 2nd Edition
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