CCH has enhanced the Audit Public Library in its Accounting Research Manager database with a set of questions and answers about Financial Accounting Standard 157 for fair value measurements.
The FAS 157 Q&A in CCH's ARM database includes more than 110 questions covering topics such as an overview and the scope of FAS 157, the definition and measurement of fair value, the primary effects of FAS 157, fair value hierarchy, recurring and non-recurring valuation, principal and most advantageous market, disclosure, risk adjustment, exit and entry price, observable and unobservable inputs, SEC MD&A guidance, and effective dates and transition.
In addition to the FAS 157 Q&A, ARM subscribers are able to access further FAS 157 material including the full text of FAS 157 and interpretive materials. CCH also recently enhanced the Internal Controls Library of ARM with a guide to internal controls under Section 404 of the Sarbanes-Oxley Act.
For more information, visit http://accountingresearchmanager.com.
In related news, the Securities and Exchange Commission plans to host a roundtable discussion on fair value accounting standards at its headquarters in Washington, D.C., on July 9. The panel discussions will focus on the usefulness of fair value accounting to investors, the potential market behavior effects from fair value accounting, practical experience and potential challenges in applying fair value accounting standards, aspects of the current standards that can be improved, and experience with auditors providing assurance regarding fair value accounting.
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