Asset impairment - FASB gets it right
Article Abstract:
The Financial Accounting Standards Board (FASB) appears to have finally responded to the long-standing complaint of management accountants that FASB statements are excessively complex and detailed. The latest standard, Statement of Financial Accounting Standard (SFAS) No. 121, 'Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of,' is surprisingly short and straightforward. It simply instructs accountants to determine if company assets are impaired, to do nothing if there is no impairment and to perform a write-down if an impairment exists. It requires that the write-down be based on 'fair-value.' The application of SFAS No. 121 is illustrated using the case of an office building about to lose its largest tenant.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1996
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New accounting principles for stock-based compensation
Article Abstract:
The FASB released Statement of Financial Accounting Standards (SFAS) No. 123, 'Accounting for Stock-Based Compensation,' in Oct. 1995. The statement covers all companies providing stock options and other stock-based compensation to employees, executives and others. It urges without compelling companies to include compensation costs for granting stock, stock options and other equity variables based on new fair value accounting rules. Those that opt not to comply with SFAS 123 will have to maintain adherence to current accounting rules provided by the 1972 Accounting Principles Board Opinion No. 25. However, SFAS 123 should always be followed if a company offers stock options or other equity instruments in exchange of goods or services from non-employees.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1997
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GASB-FASB round table
Article Abstract:
The possibility that different accounting standards for the same economic event would be prescribed by the Financial Accounting Standards Board (FASB) and by the Governmental Accounting Standards Board (GASB) was discussed at a special meeting in New York City. Especially concerned with the possibility for conflicting standards is the National Association of College and University Business Officers. The meeting accomplished little but called for increased cooperation between the two boards.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1986
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