This seminar introduces real estate appraisers to the relevant body of knowledge, issues, terminology, and valuation practices involved with valuation for financial reporting (VFR) including fair value (mark to market). Participants will discover what they should know about VFR and understand how they would be involved in providing real estate appraisals for VFR purposes. By the end of the seminar, participants will understand how VFR purposes are a natural extension of valuation services that they are currently providing.

Developed for the experienced practicing general appraiser, the content is intended for professionals who have little or no experience in valuation for financial reporting. It is assumed that the attendees will come from a wide-range of background experiences. The material provides a foundation in financial reporting and encompasses perspectives from those that prepare, use and govern the practice of preparing financial reports.

Content

• Recognize evolution of valuation for financial reporting.


• Gain an understanding of what financial reporting is, the basis of commonly prepared financial statements, and recognize common terminology surround valuation assignments prepared for financial reporting use.


• Gain an understanding of the role real estate appraisers can play in providing ethical and competent real estate appraisal services for financial reporting use.


• Understand what mark-to-market (i.e. fair value accounting) is?


• Recognize the organizations that are standard-setters for financial reporting and those that oversee their activities.


• Gain a general understanding of some of the pertinent standards and rules that encompass valuation in financial reporting work.


• Appreciate the role of the auditor and the reliance an auditor and organization management would place on a real estate appraiser.


• Appreciate the nuance between the scope of work required for preparing valuation reports for financial reporting use and other assignments.

• Fair Value for Financial Reporting: Meeting the New FASB Requirements, Alfred King (2006) (Available through Wiley or Amazon)


• International Valuation Standards, Eighth edition 2007

The Appraisal Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-2417. Web site: www.nasba.org. Delivery Method: Group-Live