Financial Reporting

The Financial Accounting Standards Board (“FASB”) requires categories of assets and liabilities to be shown at current fair value.  Our professionals spend a great deal of time keeping up with the rapidly changing fair value rules and practice.  Chaffe & Associates, Inc.’s valuation reports comply with all applicable standards as promulgated by GAAP, American Institute of Certified Public Accountants, and Uniform Standards of Professional Appraisal Practice.

If your auditor needs an independent valuation for a purchase price allocation in connection with a financial statement audit, Chaffe & Associates, Inc. stands ready to assist you.  The exercise of assigning fair value to the assets acquired in an acquisition is referred to as purchase price allocation, the process for which is defined under Accounting Standards Codification (“ASC”) 805 (formerly Statement of Financial Accounting Standard 141R).  Annual impairment testing of the goodwill may also be necessary.  Chaffe regularly performs purchase price allocations and goodwill valuations and has withstood the scrutiny of the biggest accounting firms.

Financial reporting issues that require a valuation include:

  • GAAP Fair Value Accounting (ASC 820/SFAS 157),
  • Purchase price allocations for financial statement reporting (ASC 805/SFAS 141R),
  • Impairment testing for financial statement reporting (ASC 350/SFAS 142),
  • Stock options (ASC 718/SFAS 123(R)),
  • Identification and valuation of intangible assets,
  • Portfolio valuation services for private equity funds (ASC 820/SFAS 157), and
  • Valuing intellectual property and other intangible assets.