FASB rule change may save your business costs when starting impairment testing process with your auditors
CAn companies avoid hiring outside experts for first-stage impairment testing under the new FASB rules? That was a hot topic of discussion at the third annual Fair Value Summit sponsored by the ASA San Francisco earlier this month. “We’re hearing that a great number of clients are electing to ‘go it alone’ this year,” commented Glen [...]
Concerned about private company financial statements? So is FASB!
The FEI Financial Reporting Blog just reported FASB’s preliminary findings on potential improvements to standard setting for private companies. “The FAF has thus far received over 1,100 comment letters on this subject,” says Edith Orenstein (Financial Executives International). While a large portion of the comment letters agree to the Blue Ribbon Panel’s recommendation to form [...]
Expect financial reporting to cost more in 2012, thanks to FASB
BV.com asked Al King (Marshall & Stevens) to comment on FASB’s new Accounting Standards Update No. 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs, issued last week.
Much of this is new release is just housekeeping between GAAP and IFRS. What’s disappointing is that [...]
One way to save money on purchase price allocation compliance?
According to a recent Duff & Phelps article, “Maximizing Value through the Integration of Transfer Pricing and Purchase Price Allocation,” valuation practitioners in a business combination scenario, should be aware of the hazards of preparing separate analyses – one that determines the fair value of assets and businesses for financial reporting purposes and one to [...]
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