Time Value of Money and Fair Value Accounting. Dr Jae K. Shim
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rel="nofollow" href="#ulink_cfd60661-b363-5b8e-b619-fecc4175f88f"> What are the Applications of Future Values and Present Values?
Deposits to Accumulate a Future Sum (or Sinking Fund)
Amounts of periodic withdrawals
Determining the Number of Periods Required
Can a Computer Help?
Amortized Loans
Lease Payments
Can a Computer Help?
How to Develop Loan Amortization Schedule
Annual Percentage Rate (APR)
Rates of Growth
Bond Valuation
Effective-Interest Method of Amortization of Bond Discount or Premium
Bond Yields and Internal Rate of Return
Can a Computer Help?
Stock Valuation
Single Holding Period
Multiple Holding Period
(a) Zero Growth Case
(b) Constant Growth Case
Discounted Cash Flow (DCF) Techniques
Net Present Value
Internal Rate of Return
Can a Computer Help?
Lease versus Purchase Decision
Buy versus Lease Evaluation Report
Can a Computer Help?
Expected Cash Flow Model
Choosing an Appropriate Discount Rate
Cost of Debt
Cost of Common Stock
Cost of Retained Earnings
Computing the Overall Cost of Capital
Conclusion
Chapter 2 Fair Value Accounting
Fair Value Principle
Using Cash Flow Information and Present Value in Accounting (SFAC No. 7)
Present Value Measurement
Liabilities
Interest Methods
Fair Value Measurements
The Hypothetical Transaction
The Principal (or Most Advantageous) Market
Market Participants
Highest and Best Use
Valuation Techniques
Fair Value Hierarchy
Fair Value Disclosures
Fair Value Option for Financial Assets and Financial Liabilities
Allowed Items
Disallowed Items
Electing the Fair Value Option and Election Dates
Events
Instrument Application
Balance Sheet
Income Statement
Statement of Cash Flows
Sample Application of ASC 820-10-25 (FAS-159)
Disclosures
Eligible Items at Effective Date
Available-for-Sale and Held-to-Maturity Securities
Not-For-Profit Organizations
Where Are Fair Values Used in Financial Statements?
Fair Value Valuation
Examples of Valuation Models
Market Multiples
Stock Valuation
Bond Valuation
Real Estate Valuation
Matrix Pricing
Discounted Cash Flows (DCF)
Employee Share Options
The Black-Scholes-Merton Option Pricing Model
Other Lattice-based Option Models
Binomial
Trinomial
Multinomial
Nontransferability and Early Exercise
Adjusted Replacement Cost
Illustrations of Fair Value Disclosures – Reliability Assessment
Table 1: The Future Value of $1.00