Case 10-2 Ida’s Impairment Ida Inc. (Ida) is a manufacturing company with operations in the United States and Spain. As a U.S. subsidiary of a U.K. entity‚ Ida prepares its financial statements in accordance with (1) U.S. GAAP for reporting to its U.S.-based lender and (2) IFRSs in reporting to its parent. U.S. Operations In addition to other assets‚ Ida owns and operates a commercial building in the United States that is carried at its cost less any accumulated depreciation and any accumulated impairment
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following updates to the existing cases should be noted. Case 03-5a Part I: Trademark Subsequent to the release of the Exposure Draft issued by the FASB and IASB in June 2010 the Boards received a number of comments and is currently reviewing and analyzing these comments. A revised draft of the Exposure Draft is expected in Q3 of 2011. We encourage users of this case study to follow this project and review the FASB’s and IASB’s Web site for updates. Case 04-9: Healthcare Depot On April 22
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Ida U.S. Operations: Ida Inc. (Ida) is a manufacturing company with operations in the United States and Spain. Ida is a U.S. subsidiary of a U.K. entity and prepares its financial statements in accordance with U.S. GAAP for reporting to its U.S.-based lender and in accordance with IFRS in reporting to its parent. Ida owns and operates a commercial building that at year-end 2010 represents a a cash-generating unit (CGU) under IFRS and a long-lived asset classified as held and used under U.S. GAAP
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Case 10-02: Ida’s Impairment In April 2011‚ the FASB issued an exposure draft on testing goodwill for impairment. Under the proposal‚ entities would have the option of performing a qualitative assessment before calculating the fair value of the reporting unit (i.e.‚ step 1 of the goodwill impairment test). If entities determine‚ on the basis of qualitative factors‚ that the fair value of the reporting unit is more likely than not greater than the carrying amount‚ a quantitative calculation would
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prospectively. This FSP is not yet included within the ASC‚ however‚ prior to the ASC effective date we would expect this guidance to also be incorporated into ASC 820-10. As noted in Addendum – 2007 above‚ the conclusions reached in the above case were not affected by ASC 820-10 (Statement 157); however‚ ASC 820-10 (Statement 157) may affect how Ace Company measures the fair value of the forward purchase contract and‚ therefore‚ how the proceeds are allocated between the purchase contract
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Runway offers existing customers (the “Existing Customer”) a $25 credit (the “$25 Referral Credit”) if the Existing Customer refers a friend (the “New Customer”) to Runway’s Web site and the New Customer purchases merchandise from Runway. After a purchase is made by the New Customer‚ the Existing Customer receives a $25 credit to be applied to a future purchase from Runway. The $25 Referral Credit represents the fair value of the cost Runway would pay to acquire a new customer from an unrelated
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usage becomes simpler39 “Mobile” advertising is dead. Long live tablet and smartphone advertising43 All‑you‑can‑app46 The looming spectrum shortage: worse before it gets better49 Endnotes52 Recent Deloitte thought leadership63 Contacts at Deloitte Touche Tohmatsu Limited (DTTL) and its member firms64 Technology‚ Media & Telecommunications Predictions 2013 1 “ ur aim with Predictions is to O catalyze discussions around significant developments that may require
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Zhifeng Liu 0892996 Colloquium 7 – Summary of Deloitte Deloitte is one the Big 4 public accounting firms. It has over 190‚000 employees worldwide‚ and there are 100 offices in the United States. In the colloquium‚ we met Jorge Caballero who is one of the Deloitte Tax LLP partner. Jorge was born in Cuba and immigrated to Connecticut‚ U.S. when he was 10. His father passed away one month after they arrive in U.S. Jorge started working when he was 12 to do gardening and other chores for only
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Introduction to Deloitte Touché Tohmatsu Limited Deloitte Touche Tohmatsu Limited is a worldwide company that provides professional services in the area of auditing‚ taxation‚ consulting‚ risk analysis and financial advisory.It serves as a global firm in which there are many separate member firms over many countries and cities.Each member firm remains its separate and independent legal entity. Mission Deloitte aims at helping its clients to excel.In order to achieve the mission‚ Deloitte is going
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Eagle Impairment Case Question 1 IFRS According to the facts provided for Eagle in Italy‚ we assume that the commercial building‚ which represents a cash-generating unit (CGU)‚ meets the requirement for a recoverable test under IFRS. The impairment loss is required when the building’s book value exceeds the higher of the asset’s value-in-use and fair value less costs to sell. Carrying value 1‚100 > 900 Higher of Value in use (900)
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