Goodwill

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    Paper

    in Investee | (net inc) Investment in Investee Rev – [Exp (include Exp n COGS but not div)] Equity in Investee Inc (net loss) Equity in Investee Inc Investment in Investee | Record amortize excess n impair goodwill Equity in Investee Inc impair goodwill + amortization exp Investment in Investee | Transfer stuff (when not consolidation) UPSTREAM SALE Equity in Investee Inc … Investment in Investee … = (Remain part)*(gross profit of sale/sale price*100%)*(%

    Words: 606 - Pages: 3

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    Cultrue Comparison

    leadership uses this as an opportunity to build employee and customer loyalty. While it is the desire of many companies to create the right culture, it is a major challenge for companies and their leaders (John & Sons, 2007). Interstates Company and Goodwill Industries (specifically looking at the Sioux City, IA location) have worked hard to create cultures that support their employees and their customers. While they produce and/or sell completely different products, the choices they have made about

    Words: 1894 - Pages: 8

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    Client Understanding of Accounting

    an essential element to accurate representation of financial information. Adjusting to lower cost of market inventory, capitalizing interest on building construction, recording of a gain or loss on an asset at the time of disposal, and adjusting goodwill for impairment will be the focus of this paper. Because of market fluctuations it is sometimes necessary to adjust inventory values. Some accountants believe that inventory should reflect current market value; however, current generally accepted

    Words: 1415 - Pages: 6

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    Trueblood Case 13-11 Lol

    Trueblood Case 13-11: Income Taxes – LOL Case Facts: * Transaction Date: June 30, 2011 * Acquirer: LOL * Acquired: Sundance * LOL Tax Related Balances as of December 31, 2010 * $150mm Deferred Tax Asset * $105mm Valuation Allowance * Sundance Tax Related Balances as of Acquisition Date * $200mm Deferred Tax Asset * $200mm Valuation Allowance * Acquisition Date Decisions * Remove LOL Valuation Allowance of $105mm * Remove $150mm

    Words: 1168 - Pages: 5

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    Interest in Mal. Accstd

    Association of Certified Public Accountants (MACPA) and the smaller firms behind the Malaysian Institute of Accountants (MIA). At other times big business prevailed. These conflicts and power struggles are revealed through an analysis of the case of the Goodwill Accounting Standard. Selvaraj D. Susela 358 Introduction This paper offers an understanding of the struggle within the accounting profession for control of the standard setting process, in the context of a developing nation. The focus on

    Words: 14526 - Pages: 59

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    Client Understanding

    policy of stating transaction. For this paper we wanted to discuss four key factors: Adjusting lower cost of market inventory on valuation, Capitalizing interest on building construction, Recording gain or loss on asset disposal, and Adjusting goodwill for impairment. To explain to the client why this information is important, we will discuss each topic. First we decided which topic we would do our research on, and then we assembled all the data and analysis to create this paper. Adjusting lower

    Words: 1354 - Pages: 6

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    Business Purchase

    during the past years. Calculation of Goodwill or Capital Reserves(negative goodwill):  Sometimes the purchaser will have to pay for Goodwill or receive Capital Reserve. Goodwill or capital reserve is the difference between net assets and business purchase price. Goodwill / Capital reserve = Business Purchase Price – Net Assets (Positive figure is goodwill and negative figure is capital reserve) Factors / reasons for Good will: A person has to pay for goodwill when taking over a business or when

    Words: 1504 - Pages: 7

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    Analysis of Working Papers of Abc Company

    questions pertaining to the following specific elements: • Adjusting lower cost of market inventory on valuation • Capitalizing interest on building construction • Recording gain or loss on asset disposal • Adjusting goodwill for impairment The details will incorporate the reason behind why the element was established, the impact on financial reporting, current and future implications on the element, we will review each of these elements individually. Adjust lower

    Words: 1928 - Pages: 8

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    Smooth Brew

    ASC paragraph 350-20-45-1. Application: Goodwill is considered an asset representing future economic profit stemming from the acquisition of other assets in a business combination. The amount of money given for acquiring a business over the fair value of the assigned assets and liabilities of a reporting unit is considered goodwill. Goodwill is not to be amortized but rather tested for impairment. To be able to test for impairment, the amount of goodwill should be assigned to a reporting unit. The

    Words: 915 - Pages: 4

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    Client Understanding

    reviewing the firm’s financial records there are a few additional items needed to complete the accounting evaluations. The additional items being requested are adjusting lower cost of market inventory, recording gain or loss on assets, adjusting goodwill and capitalizing interest on building construction. I understand the firm is concern with why the additional information is being requested. Each requested item will be discussed in detail to ensure the organization understands how these accounting

    Words: 1151 - Pages: 5

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