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Intermediate Accounting For Dummies by Maire Loughran

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Chapter 3

Invaluable Valuation

In This Chapter

arrow Considering historic cost

arrow Highlighting fair value

arrow Walking through fair value techniques

arrow Thinking about potential marketplaces

arrow Highlighting valuation models

arrow Understanding U.S. and international valuation standards

This chapter gives a brief overview on valuation. It provides a refresher on historic cost while homing in on fair value measurements. I also report on current developments regarding the Financial Accounting Standards Board’s (FASB) long-term goal of having financial assets and liabilities reporting on the balance sheet at fair value (what an unpressured person would pay in an open market place) instead of historic cost.

Assets are resources that a company owns, such as cash, equipment, and buildings. Liabilities are debts the business incurs for operating and expansion purposes.

You also read about various ways to figure and ...

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