标题: GAAP vs IFRS Writedowns [打印本页] 作者: HuskyGrad2010 时间: 2011-7-13 15:29 标题: GAAP vs IFRS Writedowns
Did anyone learn all this (inventory, asset writedowns, goodwill writedowns) - or are most punting?作者: ppls 时间: 2011-7-13 15:29
This is one of my most hated topics.
I'm writing this out of my memory, so if something's wrong please correct me.
Inventory:
IFRS - write down to min(cost, NRV); NRV = fair price-selling cost; write-up permissible to cost
GAAP - write down to min(cost, mkt); mkt = (NRV-profit, NRV); no write-up
Long-lived Asset:
IFRS - write down to min(NRV, PV(CF)); write up permissible, if over cost then record as gain in OCI.
GAAP - check if BV<undisc. CF, if yes write down to PV(CF); write up permissible to cost
Goodwill:
Can't remember any @#$%& about this. I have to read about it again, argggh.
And there is financial investment impairment...作者: liquidity 时间: 2011-7-13 15:29
pension is one of the easiest sections for me in fra.
I just hate inventory and long-lived assets & freakin' goodwill. full (us) and full/partial goodwill (ifrs).作者: President1988 时间: 2011-7-13 15:29
^^ I agree. I will stab the person next to me with my TI calculator if there isn't a Pension vignette.作者: ayodayo 时间: 2011-7-13 15:29
What's the secret on pensions? Is it just memorizing the reconciliation formulas. I understand most of the assumption related questions but get tripped up on the calcs.
