Intermediate Accounting Project 2

Intermediate Accounting Project 2 - A Review of Banhum,...

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Unformatted text preview: A Review of Banhum, Russ., Valuing Intellectual Property Post-Sarbanes-Oxley: Its No Longer a Matter of Making a Best Estimate. By Osarume Asuwata 05058444 Submitted (19 th November, 2009) for ACCT 331.001 Intermediate Accounting I Fall 2009 The article, Valuing Intellectual Property Post-Sarbanes-Oxley: Its No Longer a Matter of Making a Best Estimate was written in order to describe the valuation issues CPAs face with intangible assets, the rules they can follow and how they can avoid some pitfalls in the search for a value that meets all requirements. Firstly, James Rigby, CPA, a managing director in the Los Angeles office of the Financial Valuation Group, a consulting firm that specializes in valuation and performance issues says that Sarbanes-Oxley does not state what to do in valuing Intellectual Property, but it implies a greater responsibility and punishments for recording Intellectual Property assets on the financial statements. Secondly, Sarbanes-Oxley states that companies should be more precise, correct and inclusive as far as the material effect of all assets on the bottom line, and then sign off that the numbers are on the money. This accuracy level includes Intellectual Property but it is impossible numbers are on the money....
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This note was uploaded on 02/20/2012 for the course H/A 121 taught by Professor Alamo during the Spring '12 term at Morgan.

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Intermediate Accounting Project 2 - A Review of Banhum,...

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