All Impairment articles – Page 2
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Blog
Experts advise companies to brace for goodwill impairment scrutiny
Image: Calcbench, with their research tool powered by XBRL-gathered financial statement data, identified a number of companies posting quarterly goodwill impairments in the range of $250 million for five consecutive quarters, including Yahoo’s massive $4.46 billion impairment charge. “The total number … is trending up, from the mid-teens last year ...
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Blog
FASB Takes Heat on Impairment Proposal
Image: FASB is facing some fresh political pressure from Congress, this time to answer the outcry of smaller financial institutions objecting to the planned change to financial instrument impairment rules. According to FASB Chairman Russ Golden, a recent open meeting on the topic of impairment produced “insightful discussion that resulted ...
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Article
Auditing World Braces: More ICFR Attention, Big Rule Changes
Image: Expecting a letup in the scrutiny of internal controls? Forget it: 2016 promises to be another intensive year for ICFR as all sides sharpen their understanding of the subject. “Internal control over financial reporting will remain on everyone’s radar,” says Cindy Fornelli, head of the Center for Audit Quality. ...
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Blog
FASB Seats Transition Group for Impairment, Not Leases
Image: Building on the success of the revenue recognition transition group, FASB is planning a new group to facilitate implementation of the pending financial instrument impairment standard. In recent remarks, FASB Chairman Russ Golden said the TRG has already met to identify any key issues. The board is putting the ...
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Blog
FASB Sets Dates for Financial Instruments Standards
In addition to finalizing and setting a 2019 effective date for a new standard on leasing accounting, FASB has wrapped up its long-running work on changes to the way companies will classify and measure financial instruments and has directed its staff to prepare the final language of the Accounting Standards ...
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Blog
FASB Plans to Drop Step 2 of Goodwill Impairment Test
Image: FASB plans to drop the second step in the current two-part test to determine goodwill impairment, a nod to public companies eager for a simpler approach to deciding writedowns. Greg Franceschi, managing director at valuation firm Duff & Phelps, says, “By removing the second step of the test when ...
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Blog
Goodwill Impairment Drops to Five-Year Low
Public companies reported the lowest levels of goodwill impairment last year since the financial crisis touched off a downward spiral in corporate values beginning in 2008. According to Duff & Phelps’ annual study, public companies recorded writedowns totaling $21 billion in 2013, down nearly 60 percent from the $51 billion ...
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