Features - Goodwill Convergence - Introduced in July 2001, SFAS 142 signaled a new direction for accounting for goodwill in the United States. FASB decided to treat goodwill as a nonwasting asset that would periodically be tested for impairment. This treatment moves U.S. GAAP on goodwill further away from U.K. and international GAAP and works against the long-sought goal of global convergence.
Year of publication: |
2001
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Authors: | Waxman, Robert N. |
Published in: |
The CPA journal. - New York, NY : New York State Soc. of Certified Public Accountants, ISSN 0094-2049, ZDB-ID 8606109. - Vol. 71.2001, 10, p. 18-25
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