- news
- FINANCIAL REPORTING
Proposed guidance published on inventory valuation
Please note: This item is from our archives and was published in 2018. It is provided for historical reference. The content may be out of date and links may no longer function.
Related
California issues draft guidance for climate risk disclosure
SEC accepting Professional Accounting Fellow applications
Calculating AI’s impact on CPAs: New study quantifies time savings
The AICPA Financial Reporting Executive Committee (FinREC) on Monday published a working draft on inventory valuation and is seeking comments on the draft.
The inventory valuation material ultimately will be included in an AICPA Accounting and Valuation Guide on business combinations. The inventory working draft provides nonauthoritative guidance and illustrations for estimating the fair value of inventory acquired in a business combination in accordance with FASB ASC Topic 820, Fair Value Measurement. This guidance is intended for preparers of financial statements, independent auditors, and valuation specialists.
The focus of the proposed guidance is on measuring fair value of inventory for financial reporting purposes.
The draft was prepared by the AICPA Business Combinations Task Force. Comments on the draft can be emailed by Feb. 1 to Yelena Mishkevich at Yelena.Mishkevich@aicpa-cima.com.
— Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is the JofA’s editorial director.
