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Contents Preface Chapter 1 Impact of Fair Value on Earnings Per Share Fundamentals of SFAS 141R Developing Fair Value in a Business Combination How an Appraiser Looks at Intangibles Intended Use of Intangible Assets - "Market Participants" Estimated Life of Assets Impact on Earnings Per Share of Fair Value Calculations Conclusion Chapter 2 What is Fair Value? Purpose of an Appraisal Three Different Values Do Not Disprove Appraiser Integrity Why Two Appraisers Come Up with Different Results Importance of Assumptions Evaluating an Appraisal Report Accuracy of Appraisal Reports Conclusion Chapter 3 What is Fair Value Reporting? FASB Leads the Way Balance Sheet Versus Income Statement Changes in Balance Sheets Measure Income Unrealized Gains Can Be Manipulated to Create Income Should We Have Fair Value? Volatility Concepts Statement 7 FASB's Fair Value Proposals Conclusion Chapter 4 How Appraisers Develop Fair Value Basic Valuation Principles Use of the Three Approaches Correlating the Answer Value In-Use Versus Value In-Exchange What is Value In-Use? What is Value In-Exchange? FASB's Dilemma Can Fair Value Be Audited? Market Participants Income Taxes And Subchapters Considerations in Valuation Selecting an Appraiser Conclusion Chapter 5 Allocation of Purchase Price (SFASS 141R and 142) Is the Purchase Price Equal to Fair Value? Testing Fair Value Weighted Average Cost of Capital Synergies Comparing SFAS 141R with Its Predecessor, SFAS 141 Transaction Costs Contingent Consideration Fair Value of Equity Securities Issued Contingent Assets and Liabilities Restructuring Costs Identifying Specific Intangible Assets Unpatented Technology Backlog Assembled Work Force Bargain Purchases Partial Acquisitions and Non-Controlling Interests Conclusion Chapter 6 Determining the Fair Value of Intangible Assets Trademarks, Trade Names Internet Domain Names Noncompetition Agreements Customer Lists and Customer Relationships Customer Relationships Franchise Agreements Operating and Broadcast Rights Patented and Unpatented Technology Software Software Developed For Sale to Others Conclusion Chapter 7 Valuation of Liabilities and Contingent Payments FASB's New Approach to Liabilities: "Expected Value" Estimating and Valuing Legal Liabilities Valuing Environmental Liabilities Valuation of Contingent Purchase Price Conclusion Chapter 8 Testing For Impairment Testing Goodwill For Impairment Valuing Reporting Units Phase 2 Valuation of Reporting Unit Assets: Implied Goodwill Testing Identifiable Intangibles with an Indefinite Life Testing Identifiable Intangibles with a Definite Life Impairment of Property, Plant and Equipment Conclusion Chapter 9 Valuation of Hard Assets and Real Estate Highest and Best Use Value In-Use Versus Value In-Exchange Physical Inspection and the Condition of Assets Accounting Depreciation Versus Appraisal Depreciation Physical Depreciation Functional Obsolescence Economic Obsolescence Negative Goodwill Hierarchy of Earnings Assets Held For Sale What To Do About Under-Valued Assets Sarbanes-Oxley Required Controls On Property, Plant and Equipment Size Of The PP&E Problem Controlling PP&E Perfect Solution A Workable Solution Minimum Capitalization Amounts Should Be Raised Conclusion Chapter 10 In-Process Research and Development Cost Versus Value Development of In-Process Research and Development Valuation of IPR&D Conclusion Chapter 11 Valuation of Inventories and Receivables True Cost of Inventory LIFO: Half of Fair Value Net Realizable Value Selling Expenses What is a "Reasonable Profit"? Work in Process and Raw Materials Inventory Obsolescence Summary of Fair Value of Inventories Valuation of Receivables Summary of Fair Value of Receivables Conclusion Chapter 12 Valuing Stock Options Valuation of Options Under SFAS 123R Seven Variables of Option Valuation Valuation Methodology for Stock Options Developing Supportable Assumptions for the Valuation Conclusion Chapter 13 Auditing of Valuation Reports and Selecting an Appraiser "Be Careful What You Ask For!" Auditor Review of Valuation Reports "Every Appraisal Has at Least One Key Assumption" How to Choose an Appraiser Obtaining and Evaluating Proposals for Valuation Conclusion Index
Library of Congress Subject Headings for this publication:
Financial statements.
Fair value -- Accounting.
Financial Accounting Standards Board.