skip to main content
Language:
Search Limited to: Search Limited to: Resource type Show Results with: Show Results with: Search type Index

Goodwill impairment: immediate write-offs

The CPA journal (1975), 2011-01, Vol.81 (1), p.28

COPYRIGHT 2011 New York State Society of Certified Public Accountants ;Copyright New York State Society of Certified Public Accountants Jan 2011 ;ISSN: 0732-8435

Full text available

Citations Cited by
  • Title:
    Goodwill impairment: immediate write-offs
  • Author: Churyk, Natalie Tatiana ; Cripe, Brad
  • Subjects: Accountants ; Accounting ; Asset acquisitions ; Balance sheets ; Book value ; Earnings management ; Economic conditions ; Fair value ; FASB statements ; Financial accounting standards ; Goodwill ; Goodwill (Business) ; Nonprofit organizations ; SFAS 142 ; Valuation ; Writeoffs
  • Is Part Of: The CPA journal (1975), 2011-01, Vol.81 (1), p.28
  • Description: In 2001, FASB issued Statement of Financial Accounting Standards 142, Goodwill and Other Intangible Assets, which provided goodwill impairment guidance for reporting periods beginning after Dec 15, 2001. The standard was a marked departure from Accounting Principles Board Opinion 17, Intangible Assets, because it replaced a systematic, objective approach to the expensing of goodwill with a more subjective, heterogeneous approach. Goodwill is a legitimate asset if it represents a premium paid for something of future value, If it exists because of weak or inefficient management, however, or if it represents a breakdown in the principal-agent model, then it should not be capitalized as an asset. When write-offs occur, particular attention should be paid to the facts and circumstances leading to management's impairment of goodwill as required by the standard. Accountants and auditors should be aware of the need to properly question management as to the facts and circumstances of goodwill impairments and to make certain that financial statements include proper disclosure.
  • Publisher: New York: New York State Society of Certified Public Accountants
  • Language: English
  • Identifier: ISSN: 0732-8435
  • Source: ProQuest Central
Back to results list
INSPIRE LIBRARY - TON DUC THANG UNIVERSITY (84-028) 37 755 057 Feedback
19 Nguyen Huu Tho St. Dist.7, HCM thuvien@tdtu.edu.vn

Copyright © 2017 INSPIRE LIBRARY - TON DUC THANG UNIVERSITY

Searching Remote Databases, Please Wait