Quick reference guide to FASB Codification project
By the way, if you’re still learning the new, codified numbers assigned to former FASB accounting standards, then you may want to download The Codification at a Glance, recently posted by Accounting Insights (National Professional Standards Group and McGladrey & Pullen, CPAs). As reported last summer, (see BVWire# 88-4), the FASB Accounting Standards Codification has [...]
Do you know what personal goodwill is? Does any one?
Goodwill hunting: new survey searches for standard definition “Many business valuations are influenced by goodwill, but amazingly, there is no standard, functional definition of personal goodwill,” says David Wood (Wood Valuation).To help correct the problem, Wood and BVR’s Adam Manson reviewed the leading business valuation textbooks, articles, and court cases. They assembled the definitions in [...]
Can a customer relationship ever warrant an indefinite life?
Most respondents to this question posed in the popular BV Professionals discussion group on LinkedIn say no, not only because it would be a “hard sell” to auditors (five years ago, as one commenter notes, who would have thought customers like General Motors could go away or Lehman Brothers lose its brand?). More comments: “I [...]
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