TITLE

FASB Issues Business Combinations Statements

AUTHOR(S)
Heffes, Ellen M.
PUB. DATE
September 2001
SOURCE
Financial Executive;Sep2001, Vol. 17 Issue 6, p70
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article reports that the Financial Accounting Standards Board (FASB) issued two statements. Statement 141, "Business Combinations," and Statement 142, "Goodwill and Other Intangible Assets," have replaced Accounting Principles Board (APB) Opinion numbers 16 and 17. The statements will modify the business accounting combinations and goodwill in two noteworthy ways related to the improvement of transparency and goodwill. As it pertains to goodwill, Statement 142 requires that the amortization of goodwill cease.
ACCESSION #
11861226

 

Related Articles

  • FASB Completes Business Combinations Work.  // Practical Accountant;Aug2001, Vol. 34 Issue 8, p22 

    Reports that the United States-based Financial Accounting Standards Board has approved the Statements 141 and 142 accounting standards as of August 2001. Provisions of the accounting standards.

  • Goodwill Impairment Testing and Disclosures under SFAS No. 142. Christian, Cal; McCarthy, Mark G.; Schneider, Douglas K. // Bank Accounting & Finance (08943958);Jun2002, Vol. 15 Issue 4, p5 

    Discusses the provisions under the Statements of Financial Accounting Standards from the U.S. Financial Accounting Standards Board as of June 1, 2002. Impairment testing of goodwill; Additional disclosures and financial statement presentation; Treatment of intangible assets other than goodwill.

  • WHAT YOU NEED TO KNOW ABOUT NEW FASB PRONOUNCEMENTS THAT TARGET BUSINESS COMBINATIONS AND GOODWILL. DeMark, Eugene // CPA Journal;Feb2002, Vol. 72 Issue 2, p10 

    Discusses the statements released by the Financial Accounting Standards Board on business combinations and goodwill in the U.S. Accounting for intangible assets acquired in business combinations; Need to assign goodwill to the reporting units; Role of the statements in improving accounting...

  • Setting New Standards for Business Combinations and Intangible Assets. Cortese-Danile, Teresa M.; Gornik-Tomaszewski, Sylwia // Review of Business;Winter2002, Vol. 23 Issue 1, p10 

    Focuses on an extensive due process and political struggle which lead to Statement No. 141, Business Combinations, and Statement No. 142, Goodwill and Other Intangible Assets. Overview of the standard setting process; International repercussions of the Financial Accounting Standards Board;...

  • Users' Comments on SFAS 141 and 142 on Business Combinations and Goodwill. Lewis, Eric E.; Lippitt, Jeffrey W.; Mastracchio Jr., Nicholas J. // CPA Journal;Oct2001, Vol. 71 Issue 10, p26 

    Analyzes the comment letters from financial report users on the Financial Accounting Standards Board's exposure drafts on business combinations and goodwill. Reliability of the proposed impairment testing method; Examples of assets that contribute to market value ascribed to goodwill; Result of...

  • Summaries of Recently Issued Standards as of September 2001. Straley, Edward J. // Pennsylvania CPA Journal;Winter2002, Vol. 72 Issue 4, p6 

    Presents summaries of financial accounting standards issued by the Financial Accounting Standards Board in Pennsylvania as of September 2001. Contents of SFAS No. 141; Effects of SFAS No. 142 on the intangible assets of companies; Requirements for SFAS No. 143.

  • Accounting for Customer Relationships in Mergers and Acquisitions. KING, ALFRED M. // Strategic Finance;Feb2002, Vol. 83 Issue 8, p36 

    The article discusses how to account for customer relationships in corporate mergers and acquisitions. The Financial Accounting Standards Board (FASB) generally deems customer relationships intangible assets that must be amortized over time. However, this treatment refers only to those...

  • EITF Issue 03-9: Interaction of Paragraphs 11 and 12 of FASB Statement No. 142, Goodwill and Other Intangible Assets, Regarding Determination of the Useful Life and Amortization of an Intangible Asset. Weiss, Judith // Miller GAAP Update Service;2/28/2004, Vol. 4 Issue 4, p2 

    Discusses the interaction of paragraphs 11 and 12 of Financial Accounting Standards Board (FASB) Statement No. 142 or otherwise known as Goodwill and Other Intangible Assets. Information on the amortization approach based on an intangible asset's pattern of benefit that was favored by the...

  • New Pressures on Valuing Acquired Intangibles. Petrash, Gordon // Mergers & Acquisitions: The Dealermaker's Journal;May2002, Vol. 37 Issue 5, p42 

    Focuses on implications of merger accounting rules for company acquirers in the U.S. Promulgation of the rules by the Financial Accounting Standards Board; Estimation of first time impairment conduction; Importance of valuing intangibles.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics