FAS 157 Manager™ Get quick answers to all your requirement questions while streamlining your workday
Save time and eliminate uncertainties with FAS 157 Manager from CCH, the most comprehensive and authoritative resource for getting quick and accurate information about the adoption, planning and implementation of FAS 157.
FAS 157 Manager is an integrated collection of all the FAS 157 support materials you need to remain in compliance with all requirements, including common Q & As, helpful practice aids, official FASB documents and sample SEC filings.
Available Formats / Update Frequency:
Tax Research NetWork / Regular Updates
Daily Tax News
FAS 157 Questions and Answers – more than 80 Q & As walk you through the most common and complex issues relating to FAS 157 requirements, along with quick links to specific sections of FAS 157 and related practice aids.
FAS 157 Practice Aids – a variety of practice aids give you important information, guidance and tools that simplify FAS 157 issues, including Disclosure: Distribution of Assets and Liabilities in Fair Value Hierarchy, Sample Memo to Audit Committee, an Audit and Compliance Checklist, and more.
FAS 157 Best Practices – includes valuable information and advice from the experts at PwC, Deloitte, KPMG International and the AICPA
Statement of Financial Accounting Standards No. 157 – the PDF document issued by FASB has been organized into separate sections so you can locate relevant information easily
Securities Exchange Commission Filings and FAS 157 – all FAS 157-related filings and disclosure documents are integrated into FAS 157 Manager for easy access
Common Questions and Answers
Topics include:
Overview and Scope of FAS 157
What is FAS 157?
Definition and Measurement of Fair Value
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
Effective Dates and Transition
Easy-To-Use Practice Aids
FAS 157 Disclosure: Distribution of Assets and Liabilities in Fair Value Hierarchy
FAS 157 Disclosure: Recurring Level Three Measurements
FAS 157 Disclosure: Distribution of Assts and Liabilities on a Nonrecurring Basis
FAS 157 Sample Memo to Audit Committees
FAS 157 Sample Memo to Board of Directors
FAS 157 Audit and Compliance Checklist
Best Practices and Sample SEC Filings
PCAOB Fair Value Audit Practice Alert
PCAOB Ponders How to Audit Fair Value
PCAOB: Auditor’s Approach to FMV
AICPA: Auditing Fair Value Measurements and Disclosures
Valuation Researcher: Fair Value Rules Impact Private Equity
PwC: Ignore Financial Reporting Valuation at Your Own Risk!
The Casualty Actuary Society: Recent Developments Under Fair Value Accounting
KPMG International: Insurance Insights 2007
AICPA: FASB 157 Upgrades the Quality of Financial Reporting
KPMG: Accounting Implications of Illiquid Markets
AICPA: Fair Value in Illiquid (or Less Liquid) Markets
