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350-20-50-2 For each goodwill impairment loss recognized, all of the following information shall be disclosed in the notes to the financial statements that include the period in which the impairment loss is recognized:

    • a.

      A description of the facts and circumstances leading to the impairment

    • b.

      The amount of the impairment loss and the method of determining the fair value of the associated reporting unit (whether based on quoted market prices, prices of comparable businesses or nonprofit activities, a present value or other valuation technique, or a combination thereof)

    • c.

      If a recognized impairment loss is an estimate that has not yet been finalized (see paragraphs 350-20-35-18 through 35-1919), that fact and the reasons therefore and, in subsequent periods, the nature and amount of any significant adjustments made to the initial estimate of the impairment loss.

  • 38.

    Amend paragraph 350-30-50-1, with a link to transition paragraph 350-10-

65-1, as follows:

350-30-50-1 For intangible assets acquired either individually or as part of a group of assets (in either an asset acquisition, a business combination, or an acquisition by a not-for-profit entity), acquisition or business combination), all of the following information shall be disclosed in the notes to financial statements in the period of acquisition:

a.

all of the following: For intangible assets subject to amortization , The total amount assigned and the amount assigned to any major intangible asset class The amount of any significant residual value, in total and by major intangible asset class The weighted-average amortization period, in total and by major intangible asset class. 1. 2. 3.

b.

c.

d.

For intangible assets not subject to amortization, the total amount assigned and the amount assigned to any major intangible asset class. The amount of research and development assets acquired in a transaction other than a business combination or an acquisition by a not-for-profit entity and written off in the period and the line item in the income statement in which the amounts written off are aggregated. For intangible assets with renewal or extension terms, the weighted- average period before the next renewal or extension (both explicit and implicit), by major intangible asset class.

This information also shall be disclosed separately for each material business combination or acquisition by a not-for-profit entity or in the aggregate for individually immaterial business combinations or acquisitions by a not-for-profit entity that are material collectively if the aggregate fair values of intangible assets acquired, other than goodwill, are significant.

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