Essay about Gators Electronic

Goodwill is considered impaired when the implied fair value of goodwill in a reporting unit of a company is less than its carrying amount, or book value, including any deferred income taxes. By qualitative factors, if the fair value is less than its book value (likelihood more than 50%), two step of the goodwill impairment test is necessary. According to ASC 350-20-35-2 and 3(A&B&D), if the company determines that it is not more likely than not that fair value is less than the book value, it does

Goodwill is not amortised. Instead, goodwill is tested for impairment annually, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.For the purposes of impairment testing, goodwill is allocated to each of the Group 's cash-generating units (CGUs), or groups of CGUs, expected to benefit from the synergies of the business combination. CGUs (or groups of CGUs) to which goodwill has been allocated are tested for impairment annually, or more frequently if events or changes in circumstances indicate that goodwill might be impaired.If the recoverable amount of the CGU (or groups of CGUs) is less than the carrying amount of the CGU (or groups of CGUs), the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the CGU (or groups

Where explain the concept of Intangible asset, which represents assets that absence of physical substance. Moreover, Goodwill represents an asset from which is expected future economic benefits, emerge from the acquisition of other assets or business combination. Another important point would be the impartments testing as refers ASC 350-20-35-28 where indicates that Goodwill of reporting unit must be tested for impairment annually. The test can be accomplished at any time in the fiscal year. In the case of different reporting unit, the impairment test could be at different times. This citation in the memorandum was provided incorrect (ASC 305-20-35-1 and 28) this encoding does not exist in FASB.

We will discuss whether the Company’s approach for testing goodwill for impairment after recognizing an impairment charge related to a long-lived asset group classified as held-and-used is appropriate. This issue pertains to whether it is feasible to have a long-lived asset impairment without goodwill impairment.

9. If Six Flags’ goodwill has no economic value, the amount reported on the balance sheet is an example of what type of measurement error (gaap-based measurement error, unintentional measurement error, or intentional measurement error).

Gator Electronics Inc. an electronics manufacturer that sells electronic products to third-party retail centers has identified its reporting units as geographical regions in which it operates: United States, South America, Canada, Asia, Europe, Africa, and the Middle East. Gator Electronics elected not to perform the qualitative assessment for determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount and proceeded with Step 1 of the quantitative two-step goodwill impairment test for all reporting units. On the basis of the valuation prepared by Management’s Expert, Gator estimated that the fair value of all of the reporting units exceeded their respective carrying values and no

Next are the Options proceedings. This proceeding relates more to the transactions made by the directors for their own benefits as well for the ones associated to them. The specific parties in this proceedings are; Environinvest Ltd, James Patrick Downey the liquidator of the company, and S.T.Y. (Afforestation) Pty Ltd as the plaintiffs. Roger Neil Pescott, Caroline Pescott, Euan Pescott, Blackburne Pty Ltd, Brabourne Pty Ltd, Mt Ross Pastoral Pty Ltd, Eurambeen Pty Ltd, Maridale (Victoria) Pty Ltd, Carnac Pty Ltd, Clive Randal Dossetor and Grant Anthony Robertson as the list of defendants.

The requirements of the applicable financial reporting framework relevant to accounting estimates, including related disclosures

The authoritative guidance for asset impairment is to ensure that impairment is recorded and dealt with as depreciation. The scope of the standard is writing off of assets and depreciation. According to the guidance of 360-10-35, it address how long-lived assets that are intended to be held and used in an entity’s business shall be reviewed for impairment. The impairment loss can only be recognized if the carrying amount of a long-lived assets is not recoverable and

Morris Mining Corporation owns and operates mining facilities that are located in the United States, and Canada. This company primarily distributes extracted ores and minerals to their customers. Recently, in January 2015, Morris Mining acquired the mining company King Co. Once the company has been acquired, Mining Morris plans to record the difference of the purchase price and identifiable net assets as goodwill. The identifiable assets and liabilities of King Co. are going to be recorded at fair value on Morris Mining 's books. There has been discussion as to how the company is going to report the fair value for the patent that is part of the assets they acquired from King Co. Rob, an audit manager on the Morris Mining engagement, and Gabriela, the audit senior, are trying to evaluate if the method of the fair value estimate it reasonable.

Division of Economic and Risk Analysis supports the SEC through analyzing and researching or assessing the economy and interacting with many other Divisions. The Division looks are risks in the litigation, through examination, and through registrant reviews. Their function is to communicate the “Commission rulemaking and policy development” (US,

Trunk Gator is a company that is Brick-and-Mortar and Click-and-order. Originally from Scranton, Pennsylvania where our main building is located. Also, Trunk Gator can be bought at www.TrunkGator.com

With regards to commentary made in the State Inquiry, by CFO of News Australia Holdings Pty Ltd, Ms. Susan Panuccio, she conveys the proprietary nature

Gourmet Products Inc. is a Canadian public company and selling its products globally. As on August 15, 20x0, GPI acquired the Abruzzi Oils Inc. for the cash consideration of $6M. So the Purchase price is C$6,000,000 which should be deducted from the NBV of net assets (Retained earnings +common shares value) and then resulted into the Purchase discrepancy from which we should deduct the difference between FV and BV of assets and liabilities to result in goodwill, So here $350000 that is, (FV-BV) . So this value is not relates to goodwill so needs adjustment accordingly. So, the entire purchase discrepancy related to this machine should add to capital asset, also shows the depreciation expense in the income statement and accumulated

Gartner Incorporation is a supplier of market research and advisory services for players within the information technology industry. The firm derives value by recommending solutions to vexing and difficult problems facing clients. The firm was founded 1979 with the vision of providing IT establishment with useful insights for guiding their decision-making process. The organization is located in Stamford (Connecticut), in the United States. Gartner has 4400 employees. The turnover of the company was 1279 million in US dollars in the last financial year.