X hits on this document

313 views

0 shares

0 downloads

0 comments

88 / 125

82

3.

i.

ii.

v.

iii.

vi.

iv.

guidance in paragraphs 350-20-35-41 through 35-43 may be useful in assigning goodwill to reporting units upon initial application. [FAS 164, paragraph 96, sequence 96.1.3] Goodwill in each reporting unit shall be tested for impairment as of the beginning of the fiscal year in which the pending content that links to this paragraph is initially applied (in accordance with paragraphs 350-20-35-4 through 35-17). An entity has six months from the date it initially applies the pending content that links to this paragraph to complete the first step of that transitional goodwill impairment test. However, the amounts used in the transitional goodwill impairment test shall be measured as of the beginning of the year of initial application. [FAS 164, paragraph 97, sequence 97.1.1.1] If the carrying amount of the net assets of a reporting unit (including goodwill) exceeds the fair value of that reporting unit, the second step of the transitional goodwill impairment test must be completed as soon as possible, but no later than the end of the year of initial application. [FAS 164, paragraph 97, sequence 97.1.1.2] An impairment loss recognized as a result of a transitional goodwill impairment test shall be recognized as the effect of a change in accounting principle. The effect of the accounting change and related income tax effects shall be presented in the statement of activities between the captions extraordinary items and change in net assets. [FAS 164, paragraph 97, sequence 97.1.2] An NFP shall present [FAS 164, paragraph 98, sequence 98.1] any of the following in a separate line item in the statement of activities: [FAS 164 paragraph 98 sequence 98.5]

,, A writeoff of goodwill in accordance with paragraph 350-10-65- 1(b)(1) [FAS 164, paragraph 98, sequence 98.2] An impairment loss recognized as a result of a transitional goodwill impairment evaluation in paragraph 350-10-65- 1(b)(2), which shall be presented outside a performance indicator or any intermediate measure of operations, if one is presented. [FAS 164, paragraph 98, sequence 98.3] The related income tax effects, if any. [FAS 164, paragraph 98, sequence 98.4]

4.

If events or changes in circumstances indicate that goodwill of a reporting unit might be impaired before completion of the transitional goodwill impairment test, goodwill shall be tested for impairment when the impairment indicator arises (see paragraph 350-20-35-30). A goodwill impairment loss that does not result from a transitional goodwill impairment test shall not be recognized as the effect of a change in accounting principle; rather it shall be

Document info
Document views313
Page views313
Page last viewedSun Dec 04 04:12:13 UTC 2016
Pages125
Paragraphs3446
Words39606

Comments