In December 2019, the AICPA published the "Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies - Accounting and Valuation Guide". The Guide, developed by the AICPA PE/VC Task Force, provides non-authoritative guidance and illustrations for preparers of financial statements, auditors and valuation specialists.

The focus of the Guide is on the accounting for and valuation of equity and debt securities of portfolio company investments at fair value in accordance with ASC 946 and ASC 820.

The guide provides practice guidance in the valuation of portfolio company interests and includes several case studies that apply fair value measurement to a wide range of companies, sectors and instruments. The guide is available for purchase in the AICPA website. BlueVal has developed a series of webinars on ASC 820 that provide details on the techniques used in the AIPCA guide (see BlueVal Resources for links to the webinars).