Premium Essay

Bus 101

In: Business and Management

Submitted By sreid421
Words 1598
Pages 7
Goodwill Impairment Analysis and Memo
Below is a sample goodwill impairment analysis memo. If you need more detail analysis. Please free to contact us.

—————————————————————————————————————-

DESCRIPTION OF TRANSACTION

Description of transaction giving rise to recording of goodwill. The acquisitions were accounted for in accordance with FAS Statement No. 141R which was codified under the “Business Combinations topic of the FASB ASC.

Describe how the purchase price was allocated to assets acquired and liabilities assumed based on the estimated fair value at the date of acquisition. The allocation of purchase price included identifiable intangible assets and goodwill which was valued at the date of acquisition by an independent valuation firm, [Insert Valuation Firm Name Here] using generally accepted valuation practices. The “Intangible – Goodwill and Other” topic of the ASC provides that goodwill should no longer be amortized but instead tested for impairment at the reporting unit level.

DESCRIBED ENTITIES
Where headquartered. Description of business.

GOODWILL IMPAIRMENT TESTING

Under the “Intangible – Goodwill and Other” topic of the ASC, goodwill is required to be tested for impairment annually at the reporting unit level in lieu of being amortized. Also, goodwill is required to be tested on an interim basis if an event or circumstance indicates that it is more likely than not that an impairment loss has occurred. Examples of such events or circumstances include:

(i) Adverse changes in legal factors, business climate, or regulatory environment,
(ii) unanticipated competition,
(iii) loss of key personnel,
(iv) a more-likely-than-not expectation that a reporting unit or a significant portion of a reporting unit will be sold or otherwise disposed of,
(v) a significant asset group within a reporting unit is tested for recoverability,…...

Similar Documents

Premium Essay

Bus 101

...One of the first decisions that you will have to make as a business owner is to determine how the company should be structured. Therefore, your initial choices would be to decide on what organizational form your business will have. The three types of ownership for a business are sole proprietorship, partnership and corporation. As a Sole Proprietor you are the business owner. You are the only person who owns your business and in total control of the operations of your business. A sole proprietor has no legal findings and is not required by the Internal Revenue Service to submit budgets or annual reports for record keeping. A Limited Liability Company or partnership is when owners are called members and have limited personal liability for any debts or actions that may take in the LLC. The business is owned by more than one person and may include individuals, corporations, or other LLCs that have a more flexible and benefit through taxation. A Corporation has shareholders and is separate from their owners. Corporations are formed by submitting Articles of Incorporation to the state in which they may be doing the business. Corporations are also taxed separately from their owners at the corporate tax rate and the debts and liabilities are also separate from the owners. Although all of the partnerships are essential to any business, there are pros and cons of how each are handled on a day- to- day operation of a business. For that reason, as a......

Words: 1431 - Pages: 6

Free Essay

Bus 101

...The Business Environment Stevie Neal BUS100284VA016-1124-001 January 22, 2013 Professor Carlotta Burnette Abstract During the course of this paper it will describe the role of business in the economy, compare and contrast the roles of for-profit and nonprofit organizations in the economy. This paper will also discuss the impact of current fiscal and monetary policy on the economy as well as outline a strategy for accessing global markets. By the time you the reader are done reading this paper you will have some knowledge on the impact of certain organization’s level of social responsibility on a stakeholder group. Describe the role of business in the economy. To understand fully the role that business plays in today’s economy we first have to understand the word business. Business according to Business Dictionary, (2011): Business is An economic system in which goods and services are exchanged for one another or money on the basis of their perceived worth. Every business requires some form of investment and a sufficient number of customers are to whom its output can be sold at profit on a consistent basis. The foundation of a healthy community is a sustainable and diverse economy that is able to generate wealth for community members, businesses, and all those who interact within the community. That wealth provides income-earning opportunities for members, contributes to the quality of life, makes the community an attractive place to live and reduces poverty......

Words: 1362 - Pages: 6

Free Essay

French 101

...semester and am responsible for knowing its contents, policies, and dates. Signed _____________________________________________________________________ Please return signed form to your instructor. FRANÇAIS 101 – Printemps 2013 COURSE POLICIES AND GRADING PROCEDURES Professeur : _______________________________________ Email : ______________________________________ Bureau : ________________ Heures de Permanence : __________________________ Please contact your instructor about course related issues. If you have further concerns, contact the Language Program Director, Dr. Jessica Sturm, SC 186 (jsturm@purdue.edu), or the Program Assistant, Mrs. Mary Eddy, SC 111 (meddy@purdue.edu). Required Texts: HORIZONS Manley, Smith, McMinn, Prévost (5th ed.) [printed copy required for classroom use] HORIZONS iLrn Heinle Learning Center Access (includes access to on-line Student Activities Manual) Required Equip: headphones for use in computer lab; you will also need a microphone in order to complete certain homework activities. Recommended: Larousse Concise English-French, French-English Dictionary (Larousse, Paris) or another dictionary of your choice A copy of the textbook is available on reserve in the Undergraduate Library. COURSE GOALS AND OBJECTIVES: French 101 is a beginning-level course designed to develop language proficiency in French. The course will help you progress toward competence in speaking, listening, reading and writing, as well as toward knowledge......

Words: 4953 - Pages: 20

Premium Essay

Eco/101

...Economics 101 By Alicia Fletcher April 29, 2013 ECO/372 Shah Danyal Economics 101 The gross domestic product is the output of goods and services provided by labor and property located in the US. The measurement is used to determine the growth of the economy and can determine what areas may need a boost in their output to help the economy grow. An inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Often referred to as "constant-price," "inflation-corrected" GDP or "constant dollar GDP". Real GDP is the nominal GDP plus adjustment for inflation. Real GDP is also called per capita real output which is where the total population divides the real GDP. Unlike nominal GDP, real GDP can account for changes in the price level, and provide a more accurate figure. Nominal GDP is a gross domestic product (GDP) figure that has not been adjusted for inflation. Also known as "current dollar GDP" or "chained dollar GDP.” ("Invetopeida", 2013) The unemployment rate is the percentage of the total labor force that is unemployed but actively seeking employment and willing to work. Inflation is defined as a sustained increase in the general level of prices for goods and services. It is measured as an annual percentage increase. ("Invetopeida", 2013) As inflation rises, every dollar you own buys a smaller percentage of a good or service. Interest rate is the amount charged, expressed as a percentage......

Words: 682 - Pages: 3

Free Essay

101 Ranch

...101 ranvhOutline Thesis: The 101 Ranch Wild West Show was great in part to performers like Will Rogers and Bill Pickett. I.Introduction A. Opening remarks B. Thesis statement II.Will Rogers A. Childhood B. Joins ranch C. Life after ranch and death III. Bill Pickett A. Childhood B. Joins ranch C. Steer wrestling D. Life after ranch and death IV. 101 Ranch Wild West Show A. Will Rogers' contributions B. Bill Pickett's contribution V. Conclusion The 101 Ranch Wild West Show was a great, if not the greatest wild west show of all time. Its diversity and showmanship gathered thousands of people from around the world to watch and be amazed at the spectacular show that was put on. The 101 Ranch Wild West Show combined the thrills of the Wild West with the acts and performances found in a circus; from trick riding and roping to elephants and their trainers (1927 Show Roster, 2013). The 101 Ranch Wild West Show traveled the world and many people got to bask in its glory during its hay day. The show was a masterpiece put together by visionaries and it brought many people jobs and even stardom. The 101 Ranch Wild West Show was great in part to performers like Will Rogers and Bill Pickett. Will Rogers was born on the 4th of November in 1879 (Biography, 2013), in the area that is now Oologah, Oklahoma. He was part Indian descending from the Cherokee tribe (Rodeo Star, 2013). Will......

Words: 1457 - Pages: 6

Premium Essay

Mkt-101

...collar East West University Department of Business Administration Marketing Practices of “Prince Bazar Super Store” Limelight on 4 P’s & STP Concept Submitted to: Ms. Husna Ara Submitted by: Team “White Collar” 1. Jobaer Hasan ID: 2012-2-10-167 2. Mobashir Ahmed chowdhury ID: 2012-2-10-220 3. Abdul Aziz Fahad ID: 2012-2-10-249 4. Meraz Hossain ID: 2012-3-10-200 5. Rezwana Sultana ID: 2012-1-10-101 Date of Submission: 25 March, 2013 Date: 25 March, 2013 To Husne Ara Lecturer East West University Bangladesh Sub: submission of the term paper on Prince Bazaar. Dear Madam, We have great pleasure to replace before you our assignment on Super Shop Industry. We have made a research paper on Prince Bazar. We are the student of MKT-101; Sec-6. We analyzed on Prince Bazar to prepare this term paper, we have gathered what we believe to be the most complete information available. We have worked hard preparing this Term paper and we hope it will perfectly present the whole organizational situation of Prince Bazaar. We will be always available for answering any query related with this term paper. We request you to excuse us for any mistake that may occur in the term paper despite us best effort. It will be great pleasure for us, if you accept our term paper. Thanking......

Words: 4875 - Pages: 20

Free Essay

Termism 101

...Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101 Termism 101......

Words: 2224 - Pages: 9

Premium Essay

Bus 101 Term Paper Tqm

...Quality Management a Competitive Advantage in a Global Market Total Quality Management (TQM), Six Sigma, and International Standards Organization (ISO), are three of the processes or tools organizations need to compete and give them a competitive advantage in the global market of today and that will allow them to keep up with the ever changing World market in the future. Total Quality Management (TQM) is a philosophy that says that uniform commitment to quality in all areas of an organization promotes an organizational culture that meets consumers' perceptions of quality. The concept of TQM rests largely on five principles: • Produce quality work the first time. • Focus on the customer. • Have a strategic approach to improvement. • Improve continuously. • Encourage mutual respect and teamwork. To be effective in improving quality, TQM must be supported at all levels of an organization, from the highest executive to the lowest-level hourly employee. TQM extends the definition of quality to all functional areas of the organization, including production, marketing, finance, and information systems. The process begins by listening to customers' wants and needs and then delivering goods and services that fulfill these desires. TQM even expands the definition of customer to include any person inside or outside the company to whom an employee passes his or her work. In an assembly plant, for example, the warehouse supplies its customer, which is the line operator......

Words: 3133 - Pages: 13

Free Essay

Comp 101

...Kashu Hussey Prof: Mrs. Redman Class: Composition 101 Date 10/10/12   When I was a child, I always had my parents by my side to take care of me. They have given me such a wonderful life even if I take them on my shoulder and show them around the world I won’t be able to repay their greatness, kindness and what they did for me. The have always showed me the right path to follow. There are many aspects that stand out in my personality such as responsibility, helpful and respectful person. All of these things make me the person who I am and make me enjoy my life.     One of the aspects that stand out about my personality is that I am very responsible person. When I think of responsibility, the first thing pops into my mind is my family and it means a lot to me. Ever since I was a little kid, my parents always taken care of me and looked-after me even when I was sick. They gave me everything I wanted and I never felt shortness for anything. They are old now and it is my responsibility to support them. They don have enough ability to work and that makes no difference. I will work hard for them and make them believe I am always going to be there to assist them. If they could’ve taken care of when I was young so then why can’t I support them at their old age? Also, I take care of my young brothers and sisters and trying my hard to get them education and a better life.     Another aspect that stands out my personality is I am very helpful. I like to help people who have......

Words: 653 - Pages: 3

Premium Essay

It 101

...IT 101-002 September 22, 2013 IT News Report Assignment 1 Article Summary The article, “The iPhone 5s fingerprint reader: what you need to know”, explains how the fingerprint sensor works to its readers. For the first time, Apple has introduced a new technology called the “Touch ID” in its iPhone 5s. Basically, this feature enhances the security for the phone’s owner, where they no longer have to solely rely on entering a passcode to access their phone. The new iPhone 5s makes use of a capacitance fingerprint reader, which measures and senses the user’s fingerprint and further forms an image. This sensor has been placed in the “home” button of the phone. Eventually, the iPhone does not store the user’s fingerprint but instead runs a scan every time a finger is placed on the sensor. The emergence of this new technology does not mean that passcodes will no longer be used. Passcode is a must! If the sensor breaks or something happens to your finger, you need a way to get back into your phone. Other Apple services, such as iCloud or iTunes, will still require passwords, as fingerprint readers cannot always be used for them. However, purchases can be made using the Touch ID. According to Apple, this new technology will prove to be exciting to its users. A simple four-digit passcode will no longer always need to be used to get into your phone. Touch ID along with the use of a passcode will prove to be more secure for the iPhone user. Analysis Day by day, new advancements in...

Words: 461 - Pages: 2

Premium Essay

Bus 101 Homework

...1. Production and manufacturing both are process to converting inputs into outputs by applying some operation or process. Both terms are used interchangeably, yet both are different. Difference is the raw material procurement. When raw materials are not procured from outside, the company owns it, after processing operations produce goods/service, then the process is called Production. While maufacturing also includes Design sales marketing, and is a narrow term. Whereas production is a broader term. 2. While mass production is effective for creating large quantities of one item, flexible production is usually more cost-effective for producing smaller runs. Whereas customer-driven production system evaluates customers demands in order to make the connection between products manufactured and products bought. 3. The Analytic production system reduces a raw material to its component parts in order to extract one or more marketable products. The part of production that physically or chemically changes materials. For Ex: Petroleum refining breaks down crude oil into several marketable products, including gasoline, heating oil, and aviation fuel. Synthetic production system is the reverse of an analytic system. It combines a number of raw materials to produce finished products. The part of production process that puts together components. For Ex: Canon’s assembly line produces a camera by assembling various parts such as a shutter or a lens cap. 4. Business sustainability......

Words: 601 - Pages: 3

Premium Essay

Psc 101

...Professor Schnell PSC 101 November, 20th 2014 Paper 1 Poverty is a big problem in the world, and also in the United States. Even though the United States is one of the most wealthy and well off first world nations, there are still about 10% of the population that is in poverty. This was found by the 2009 U.S. Bureau of Census Statistics report. In the 2009 U.S. Bureau of Census Statistics report, Hispanics and African Americans have the highest rate of poverty at 21.3 and 22 percent respectably. Compared to Whites which is only 8.4%, there is a large difference. However, being a business major and taking many statistic courses, there are more Whites in poverty. The total percent in poverty is 10% of the population. A total of 303,820 people live in poverty, 197,164 are White-not Hispanic, 38,556 are Black and 48,811 are Hispanic. Looking at this, there are a substantial amount more of White people who live in poverty than Hispanic and Black people combined. I received all of these statistics from http://www.census.gov/prod/2010pubs/p60-238.pdf. As you can see, there are many more white people in poverty. By showing only a percentage it makes it seem like only minorities are in poverty. Even though a higher percentage of them are in poverty there are many more whites who live in poverty. Female lead households also have a higher rate of poverty than male lead households. This is due to the fact that in today’s society, women are still making their way up in the job......

Words: 1270 - Pages: 6

Premium Essay

English 101

...limbs. I am always sure to come to English class because I know of my terrible history in this subject area. I have always struggled with English and before this semester had assumed that the college level class would be the death of me. As I read over the syllabus for this class it states that we will learn to understand writing assignments as a series of tasks and develop flexible strategies for generating, revising, editing, and proof-reading the assigned papers. I shuddered at the sheer thought of having to write five papers. Narrative, Evaluation, Profile, Position. These words might as well have been written in another language because I had no idea how to differentiate between them. Despite my fears, I believe this semester’s English 101 course has truly helped me develop my writing skills and advance to a more capable writer. Throughout my life English has always been my most difficult subject. Even back in elementary school I would have 100 percent averages in all of my other classes except English. I do not know what it was that challenged me so much but I had a terrible time. With the start of my high school career coincided the beginning of my paper writing experiences. I would work for hours each day trying my best to write a paper that made sense and would flow smoothly between paragraphs. My countless hours of work, however, never seemed to pay off. Every single paper that I had returned to me from my teachers was always covered in bright red Sharpie marker,......

Words: 1480 - Pages: 6

Premium Essay

Sab 101

...SEC Staff Accounting Bulletin: No. 101 – Revenue Recognition in Financial Statements summarizes certain of the staff's views in applying generally accepted accounting principles to revenue recognition in financial statements. The staff is providing this guidance due, in part, to the large number of revenue recognition issues that registrants encounter. Based on these guidelines, revenue should not be recognized until it is realized or realizable and earned. SFAC No. 5, paragraph 83(b) states that "an entity's revenue-earning activities involve delivering or producing goods, rendering services, or other activities that constitute its ongoing major or central operations, and revenues are considered to have been earned when the entity has substantially accomplished what it must do to be entitled to the benefits represented by the revenues" [footnote reference omitted]. Paragraph 84(a) continues "the two conditions (being realized or realizable and being earned) are usually met by the time product or merchandise is delivered or services are rendered to customers, and revenues from manufacturing and selling activities and gains and losses from sales of other assets are commonly recognized at time of sale (usually meaning delivery)" [footnote reference omitted]. In addition, paragraph 84(d) states that "If services are rendered or rights to use assets extend continuously over time (for example, interest or rent), reliable measures based on contractual prices established in advance...

Words: 529 - Pages: 3

Premium Essay

Bus 101

...Business Environment 2012 JESSICA SEELEY BUS100 Week 4 Assignment 1: The Business Environment Prof. James 8/1/2012 . Business plays a large role in the economy, without business there would be no economy. Economy is defined as “a financial and social system of how resources flow through society, from production, to distribution, to consumption” ( McGowan, 2012, pg 17). By definition business is “any activity that provides goods and services in an effort to earn a profit” (McGowan, 2012, pg 3).Those profits allow businesses to innovate or offer more goods and services, which will consequently result in improving people’s lives. Businesses also play a significant role in the economy by creating wealth, employment and private enterprise. Businesses build wealth that gets redistributed throughout an economy, if businesses start to fail so will the economy that they are in. “The Factors of production is an economic term to describe the inputs that are used in the production of goods or services in the attempt to make an economic profit. The factors of production include land, labor, capital and entrepreneurship.” (Investopedia.com, definition) All four factors of production are important to the production of goods. Natural recourses, or land, provide the raw materials that make up the goods. Human resources, or Labor, do the hands-on work. Capital refers to the tools that make the job easier. And entrepreneurship organizes the entire development. A number of......

Words: 1091 - Pages: 5