"Impairment of goodwill acca" Essays and Research Papers

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    Impairment of goodwill and CGUs By Graham Holt Studying this technical article and answering the related questions can count towards your verifiable CPD if you are following the unit route to CPD and the content is relevant to your learning and development needs. One hour of learning equates to one unit of CPD. We’d suggest that you use this as a guide when allocating yourself CPD units. The basic principle of impairment is that an asset may not be carried on the statement of financial position

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    has made various acquisitions over all segments of their business. These acquisitions resulted in a total of $360 million of goodwill as of December 2011‚ $200 million attributed to the Fitness Equipment‚ $130 million attributed to Golf equipment‚ and $30 million attributed to the Hockey Equipment. In previous years‚ management had performed the annual goodwill impairment

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    Case 11-9 Goodwill Impairment Testing • Galaxy Sports Inc. (Galaxy)‚ a U.S.-based manufacturer of sports equipment‚ is a calendar year-end SEC registrant with one operating segment and the following three reporting units: o Fitness Equipment. o Golf Equipment. o Hockey Equipment. • Galaxy is in a competitive industry with several publicly traded companies in which growth and profitability are tied to the market and consumer demand. • Three reporting units are appropriate because

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    goodwill

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    Introduction With the rampant rise in globalization‚ one would find it rather difficult to disagree that the world is flat. If we agree with the aged old adage‚ ”accounting is the language of business” then business enterprise around the world cannot be affording to be speaking different language while exchanging different financial result so to make them more convenient different bodies have been formed all around the world . Below are some major bodies that has unified the accounting

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    Goodwill

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    Goodwill Can be conveniently divided into two classes that which had been – Internally generated – Purchased There is general agreement that the former category should not be brought to account because it was impossible to do so within the accepted rules of double entry bookkeeping and historical cost based accounting – it is the goodwill not purchased but generated via the internal operations of the organisation No difficulty in bringing purchased goodwill to account‚ but controversy raged as

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    Impairment

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    Impairment accounting – the basics of IAS 36 Impairment of Assets IAS 36 Impairment of Assets (the standard) sets out the requirements to account for and report impairment of most non-financial assets. IAS 36 specifies when an entity needs to perform an impairment test‚ how to perform it‚ the recognition of any impairment losses and the related disclosures. Having said that‚ the application of IAS 36 is wide and its requirements may be open to interpretation. The recent economic uncertainty

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    Goodwill

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    definition: An account that can be found in the assets portion of a company’s balance sheet. Goodwill can often arise when one company is purchased by another company. In an acquisition‚ the amount paid for the company over book value usually accounts for the target firm’s intangible assets. Goodwill is seen as an intangible asset on the balance sheet because it is not a physical asset like buildings or equipment. Goodwill typically reflects the value of intangible assets such as a strong brand name‚ good

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    Goodwill

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    Goodwill Goodwill is a non-profit organization that provides job training‚ employment placement services and other community-based programs for people who have a disability‚ lack education or job experience‚ or face employment challenges. (Begin‚ 2008). Goodwill operates as a network of 183 independent‚ community-based organizations in the U.S.‚ Canada and 14 other countries. In 2008‚ Goodwill collectively earned more than $3.25 billion and used 84 percent of that revenue to provide employment

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    Goodwill Controversy

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    accounting; which is goodwill. We discuss the general view of goodwill and talk about goodwill valuation is books and from there we discuss the accounting practices for goodwill around the world which covers various countries in different parts of the world and look into the depths of goodwill controversy. Lastly‚ the method of goodwill valuation is discussed. 1. What is your impression of goodwill of a business in a general sense? How does it differ from the concept of goodwill in accounting? An

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    Acca

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    Publishing 2013 ACCA F7 (INT) Financial Reporting Study Text emilewoolfpublishing.com   ACCA Paper F7 (INT) Financial Reporting (International) Welcome to Emile Woolf‘s study text for Paper F7 Financial Reporting (International) which is: Written by tutors Comprehensive but concise In simple English Used around the world by Emile Woolf Colleges including China‚ Russia and the UK Publishing Sixth edition published by   Emile Woolf Publishing Limited  Crowthorne Enterprise Centre

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