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Webinar Course Description
With divergence in practice and varying sources of
guidance, inventory valuation can often seem daunting. In this webinar, we will
propose simple, straightforward modifications to the valuation of inventory that you can incorporate into your valuation process.
We will first review what comprises the book value of inventory and valuation
guidance from the FASB, the IRS, and the AICPA. Next, we will walk through an
example valuation of raw materials, work-in-progress, and finished goods in
accordance with this guidance. The example provided will reconcile the top-down
(comparative sales) and bottom-up (cost of reproduction) methods. Finally, we
will illustrate how to account for product- and process-specific profit and
expenses, reconcile to market participant data, and adjust supporting assets so
as to not double-count profit.
Recommended Pre-readings
Working Draft of Inventory Valuation Guidance from Forthcoming AICPA
Accounting and Valuation Guide Business Combinations
Accounting Today: A Refined Approach to Inventory Valuation (https://www.accountingtoday.com/opinion/a-refined-approach-to-inventory-valuation)
Course Audience
Valuation specialists and other parties interested in performing inventory valuation analyses (under Fair Market Value and Fair Value Standards).
NASBA and Continuing Professional Education (CPE) Credit
The American Society of Appraisers 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 the final authority on the acceptance of individual courses for
CPE credit. Complaints regarding registered sponsors may be submitted to the
National Registry of CPE Sponsors through its website www.learningmarket.org.
CPE Credit: (2) Hours in Specialized Knowledge
Program Level:
Intermediate
Delivery Method: Group-internet based courses are approved for
CPE
Prerequisites: None
Advanced Preparation: None
Policies: ASA's
Refund and Cancellation Policy and ASA's Complaint Resolution Policy
Instructor Information
Anthony Pumphrey , ASA | Vice President | Valuation Research Corporation
Anthony Pumphrey, ASA, CFA is Vice President of Valuation Research
Corporation. Mr. Pumphrey has 10+ years of experience performing business
enterprise valuations, purchase price allocations, impairment analyses, and the
valuation of claims within complex capital structures for public and private
companies under IRC 409a, ASC 350, ASC 360, ASC 718, ASC 805, ASC 820, and ASC
852. Prior to joining VRC, Mr. Pumphrey was with Hempstead & Co., where he
provided valuation opinions for estate and gift tax planning, financial
reporting, employee stock ownership plans, litigation support, and the issuance
of incentive stock options.