Streamlining the New Fair Value Disclosure Requirement
Presenter: Neekis Hammond
A new Financial Accounting Standards Board (FASB) disclosure requirement makes several material changes to the U.S. generally accepted accounting principles (GAAP). Among the changes are new requirements for determining the fair value disclosure of financial institutions’ loan portfolios.
(ASU) 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, went into effect for financial statements beginning after 12/31/17. The update requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes in accordance with Topic 820.
Join to learn about:
- What exactly is required
- How to perform a fair value measurement
- Q1 2018 valuation results
- CECL synergies
- How and why Sageworks can help
About the Presenter
Neekis Hammond, Advisory Services
Neekis Hammond as Principal Consultant with Sageworks, provides financial institutions with advisory services, leads thought leadership and consults with product development on compliance and accuracy. He specializes in the Allowance for Loan Lease Losses; CECL preparation and methodology; acquired loan accounting and valuation, Stress Testing, and various portfolio analysis topics. Prior to joining Sageworks, he held a key role within Elliott Davis Decosimo’s FIG Consulting division where he provided valuation, accounting and loan analysis services. Preceding Elliott Davis Decosimo, he was with a multi-billion dollar financial institution where he worked on acquisitions ranging in size from $130 million to $2 billion and was an auditor with a regional CPA firm.