Title: Long-Term Asset Impairment

Essay Details

Subject: Business
Author: Nancy C
Date: June 13, 2016
Level: University
Grade: B
Length: 7 / 2023
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

Throughout the course of this paper the differences between Statement 144 and 121 will be identified, specifically when it comes to impairment evaluation, as well as the benefits of these changes from a preparer and user point of view. Although Statement 144 supersedes Statement 121; 144 still retains the requirement of Statement 121 to recognize an impairment loss only if the carrying amount of a long-lived asset is not recoverable from its undiscounted cash flows, as well as the requirement to measure an impairment loss as the difference between the carrying amount and the fair value of the asset...

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(fasb.org/stsum144) Under Statement 144, the carrying amount of an asset is not considered recoverable if its carrying amount exceeds the sum of the undiscounted cash flows expected to result from its use and ultimate disposal. (BDO Seidman) The assets that Statement 144 applies to are the recognized long-lived assets of all companies, including not-for-profit organizations that are held or are to be disposed of...

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