This session on SFAS 157 Fair Value Measurements will provide an overview on this significant pronouncement with a focus on practical applications to for-profit and non-profit organizations. In the session we will review our understanding of key provisions of the SFAS and subsequent FSPs and guidance, fair value measurement determinations; and disclosures. In addition, we will address specific practice situations from the session participants.

Lou Mezzina, based in KPMG's NYC office, is an audit partner and KPMG’s National Industry Director for Higher Education and Other Not-for-Profits. In this national role, he serves as a resource to several of the firm's clients and their service teams, leads internal knowledge sharing efforts, and is a frequent speaker on matters of interest to higher education and other not-for-profit institutions. With more than 34 years of experience, Lou has served many of KPMG's clients, including the Archdiocese of New York, Dartmouth College, Fordham University, Johns Hopkins University, March of Dimes, St. John’s University, and Wildlife Conservation Society.