Fair value reporting: What it means to the FASB and you

Many owners are confused by the subjective task of estimating “fair value” for financial reporting purposes. Outside appraisers can help determine fair value, but management can’t outsource responsibility for fair value estimates. That means you must 1) understand the valuator’s assumptions, methods and models, and 2) implement adequate internal controls over fair value estimates and disclosures. If your financial statements include assets and liabilities reported at fair value, we can help ensure that you’re meeting your financial reporting responsibilities. Please contact our office for more information http://bit.ly/2cWCuPa