Reference no: EM132270157
Question: Please comment on the following post:
The IASB is currently considering improvements to the goodwill and impairment provision of IAS 36, Impairment of Assets. In particular, the Board is considering two elements:
Objective 1: Improving disclosures to help investors determine whether a company's investment in acquiring a business was a good investment or not and whether the acquired business is performing as anticipated.
Objective 2: Simplifying the accounting for goodwill and improve the impairment requirement which companies argue is complex, time consuming and expensive.
Candidly, the Board has not made any decisions on this project and set three research objectives to explore the disclosure requirements. The Board will take up this issue again at the next meeting set for April 2019.
In the U.S., the FASB has issued several updates regarding goodwill and impairment of intangible assets. In June 2001, Statement No. 142 was issued to change the recognition of goodwill and other intangible assets. In particular, goodwill would no longer be amortized and treated as a finite asset with a set useful life, instead it would be treated as an indefinite asset and tested annually for impairment. At first glance this new statement sounds similar to IAS 36, however, in September 2011, the FASB issued Accounting Standards Update No. 2011-08, Intangibles-Goodwill and Other (Topic 350). Accordingly, the update reduces the complexity and costs of calculating impairment of goodwill and expands on the examples of event and circumstances that should be considered in the annual impairment test. The FASB admits that this update increases the differences between U.S. and International standards, thus diminishing convergence of this topic.
On a positive note, if the IASB improves objective 2 above, it has the opportunity to align internationally goodwill impairment standards with U.S. GAAP, advancing toward unity once again"
Please provide 200 words with references.
Data modeling and database design using visio
: Data Modeling and Database Design using Visio and Microsoft Access. Carefully study the following scenario and develop a database as instructed
|
How you will apply that learning in your daily life
: Describe what you found interesting regarding financial statements, and why. Describe how you will apply that learning in your daily life, including your work.
|
Discuss political issues involved in your particular topic
: Choose a topic that will be affected by the adoption of IFRS in the United States. If the US adopts IFRS, what do you think may be the political issues.
|
Data Compression Problems
: MATH 5140/6140, Data Compression Problems - Encode bbbb, abcd, dcba, and badd by the method of section 6.1, assuming that decoder will be given some word length
|
Comment on the given post related to accounting
: The IASB is currently considering improvements to the goodwill and impairment provision of IAS 36, Impairment of Assets. In particular, the Board is considering
|
Python program with if-elif-else structure
: Is there any help for a Python program with if-elif-else structure that performs the following tasks:
|
Why is it important to eat a balanced snack
: Why is it important to eat a balanced snack? What can you do to ensure your snacks are nutritious? What is one benefit of eating a high fiber breakfast?
|
Discuss the characteristics of arguments
: Identify and define the following: (Go ahead and copy and paste that which is below, then answer underneath each). Identify the elements in the model.
|
Review an advertisement for a job in sport
: Review an advertisement for a job in sport. Tell us about the job responsibilities and explain the qualifications the employer is looking for in candidates
|