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Unformatted text preview: sheet. According to FASB’s Statement No. 144, when impairment is recognized, it has to be disclosed in the notes on the financial statements. The disclosure needs to indicate a description of the asset and the circumstances that led to the impairment. . Reference http://asc.fasb.org/ http://www.fasb.org/summary/stsum142.shtml Schroeder, R.G., Clark, M.W., & Cathey, J.M. (2005). Financial Accounting Theory and Analysis (8th Ed.). : John Wiley & Sons, Inc...
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- Spring '11
- Impairment, John Wiley & Sons, John Wiley, William H. Wiley, Financial Accounting Theory and Analysis