Valuation for Financial Reporting: Intangible Assets, Goodwill and Impairment Analysis - SFAS 141 and 142 - Tapa dura

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MICHAEL J. MARD, CPA/ABV, ASA, and STEVEN D. HYDEN, CPA, ASA, are with The Financial Valuation Group in Tampa, Florida. JAMES R. HITCHNER, CPA/ABV, ASA, and MARK L. ZYLA, CPA/ABV, CFA, ASA, are with Phillips Hitchner in Atlanta, Georgia. MARD and HITCHNER were ad hoc advisors to the Financial Accounting Standards Board in its deliberations concerning SFAS Nos. 141 and 142. All of the authors are FCG-recognized specialists in valuation issues related to financial reporting of intangible assets and goodwill impairment.

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Valuation for Financial Reporting provides guidance and insight to practitioners, auditors, and their clients on two significant statements issued by the Financial Accounting Standards Board (FASB) in 2001: SFAS No. 141, Business Combinations, and SFAS No. 142, Goodwill and Other Intangible Assets. Written by four business valuation experts, two of whom advised the FASB on developing the new regulations, this book provides financial executives, CPAs, and valuation practitioners with everything they need to know to ensure full compliance with the standards.

The rules are sweeping and complex. Valuation for Financial Reporting explains the valuation implications of the financial reporting requirements, including how to identify the characteristics of goodwill and intangible assets, determine if impairment has occurred, and employ specific methods to assess the financial statement impact of such impairment. This must-have guide also:

• Distinguishes fair value from fair market value
• Includes examples of disclosure in audited financial statements
• Discusses best practices for the valuation of in-process research and development
• Includes detailed examples of valuations performed under SFAS Nos. 141 and 142
• Emphasizes the importance of fair value work papers as part of the audit file

While numerous articles and commentaries on the subject have appeared since the FASB initially began considering the issues, Valuation for Financial Reporting is the first publication to provide "real world" examples of the valuation techniques and methodologies required to perform a purchase price allocation under SFAS No. 141 and an impairment study under SFAS No. 142. Valuation for Financial Reporting helps lift the veil of mystery surrounding these two important pronouncements and provides a practical guide for their implementation.