According to the Financial Accounting Standards Board (FASB’s) recent guidance on fair value measurements ASC820-10-5 (FAS-157, Fair Value Measurements), Level 3 hierarchy accepts fair values
estimates based on present value of expected future cash flows. Furthermore, accountants must have a working knowledge of future value and present value concepts because of their application to
numerous types of business events and transactions which require proper valuation and presentation.
* This book which is essential reading for owners and accountants / auditors of businesses.
* The book is written in a non-technical way to enable both accountants and managers to be able to comprehend the potential problems and the systems to detect weaknesses and to take the
necessary steps to prevent fraud within their business.
