CVFI Education
Overview:
Thank you for your interest in the Certified in the Valuation of Financial Instruments (CVFIr) credential and the corresponding body of knowledge. Your dedication and commitment to your career are clear, and we are committed to bringing you the best learning experience possible.
We are currently revising the online platform to offer you a refreshed learning experience with a new look. Some subject areas - financial reporting standards, corporate governance, market regulation and more - will be transformed with motion graphics, videos, pop-out exercises and increased opportunities for interactivity.
But don't let that stop you. Get started now with other sections of the body of knowledge, and we'll notify you when the affected portions are back online in the spring.
Consistently and transparently value securities.
To help valuation professionals better convey the contents of financial instrument valuations and demonstrate a high level of dedication to approaching the valuation of derivatives, structured products, securitized debt, and other instruments, the AICPA created the Certified in the Valuation of Financial InstrumentsT (CVFIT) credential. The CVFI credential provides everyone in the valuation chain a more consistent and transparent method for substantiating what goes into complex calculations when valuing securities.
Earn the CVFI credential.
The CVFI credential is designed for CPAs and valuation professionals who want to demonstrate a high level of dedication to approaching the valuation of:
- derivatives,
- structured products,
- securitized debt,
- and other instruments.
Differentiate yourself with the CVFI credential to show your skill and confidence in performing fair value measurements.
Complete the CVFI learning pathway.
This program bundle includes the required learning and exam for CPAs and valuation professionals engaged in the financial instruments valuation profession to achieve the CVFI credential. Led by industry experts, the required online education includes a series of courses that cover the CVFI body of knowledge and the Financial Instruments Performance Framework (FIPF). Learning includes valuation-focused topics on accounting standards, audit considerations, current expected credit losses, and risk.
Important note: For CPAs, the Professional Ethics for non-CPA Associate AICPA Members and AICPA Valuation and Consulting Standards courses within this bundle are not required to be completed. All valuation professionals who do not hold a CPA license will need to complete all courses in the program.
Objectives:
Learning Outcomes
- Recall the purpose and primary goal of the Financial Instruments Performance Framework.
- Identify the basic information required in a valuation report / work file to comply with the Financial Instruments Performance Framework.
- Differentiate the roles of financial reporting standard-setting bodies and regulatory authorities in establishing and enforcing the reporting standards related to financial instrument valuation.
- Choose and document appropriate valuation models and common inputs.
- Identify general market mechanics and features that may require more complex handling.
- Identify the significant risks associated with financial instruments included in the financial statements.
- Identify the International Accounting Standard Board's (IASB's) conceptual framework.
- Differentiate debt securities from other financial instruments.
- Identify similarities and differences between current expected credit losses (CECL) and expected credit losses (ECL).
Major Topics:
Key Topics
- Financial Instruments Performance Framework (FIPF)
- Fair value framework
- Professional judgment
- Independence and nonattest services
- Valuation techniques and inputs
- Consulting services and process
- Risk-based auditing and valuation of financial instruments
- Planning considerations when auditing financial instrument valuations
- Accounting for financial instrument valuations
- Debt and equity securities
- Derivatives
- Pillars of CECL
- Life cycle losses