Smeal Professor Co-Authors Book On New FASB Standard
A new book co-authored by a Smeal College of Business professor explains a recent statement by the Financial Accounting Standards Board regarding fair value measurements and clarifies how to use fair values in financial reporting.
Smeal Professor Co-Authors Book On New FASB Standard
UNIVERSITY PARK, PA (January 3, 2008) – A new book co-authored by a Smeal College of Business professor explains a recent statement by the Financial Accounting Standards Board regarding fair value measurements and clarifies how to use fair values in financial reporting.
Fair Value Measurements: Valuation Principles and Auditing Techniques, by J. Edward Ketz, associate professor of accounting, and Mark Zyla, managing director of Atlanta-based accounting firm Acuitas, goes in depth to provide practitioners with a clear understanding of FASB Statement No. 157, entitled Fair Value Measurements.
By issuing this new standard, according to the book, "FASB is trying to increase the reliability of fair value measurements in practice."
The authors provide readers with clear definitions of the concepts developed by FASB, discuss fair value hierarchy, and explain how to audit the fair value measurements of assets and liabilities.
The book, published by the Bureau of National Affairs as part of its Accounting Policy & Practice Portfolios (Portfolio No. 5127), is available through BNA (www.bna.com).
REPORTERS & EDITORS: For more information, please contact Wyatt DuBois in the Smeal College of Business Media Relations Office at 814-863-3798 or wed112@psu.edu.
Penn State's Smeal College of Business offers highly ranked undergraduate, MBA, executive MBA, Ph.D., and executive education opportunities to more than 5,500 students at all levels. Featuring academic departments of accounting, finance, marketing, insurance and real estate, management, and supply chain and information systems, the college is also home to major research centers such as the Center for Supply Chain Research, the Institute for the Study of Business Markets, the Center for Digital Transformation, the Farrell Center for Corporate Innovation and Entrepreneurship, the Center for Global Business Studies, and the Center for the Management of Technological and Organizational Change.
