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VGU RESEARCH REPOSITORY


Please use this identifier to cite or link to this item: https://epub.vgu.edu.vn/handle/dlibvgu/625
Title: Accounting for goodwill and impairment testing under IFRS
Authors: Nguyen Minh Thuy 
Keywords: Goodwill;Impairment;IFRS;Accounting
Issue Date: 2017
Publisher: Vietnamese-German University
Abstract: 
This paper introduces about the accounting for goodwill and impairment test in countries who apply IFRS and countries who use the similar accounting systems. Since 2005, all listed companies from countries belonging to the European Union must perform the purchase method (also called ―acquisition method‖), instead of ―widely favored‖ pooling-of-interests method (Danzig, 2001), for all business combinations. Also, I will talk about the accounting for goodwill generated from acquisitions and the impairment test since theU.S Financial Accounting Standards Board (FASB) introduced the SFAS 141 ―Business Combinations‖ and SFAS 142 ―Goodwill and Other Intangible Assets‖ in 2001, and the International Accounting Standards Board (IASB) introduced the IFRS 3 ―Business Combinations‖ (2008) and IAS 36 ―Impairment of Assets‖ (revised in 2004). These standards mandate that goodwill cannot be amortized over their useful lives any longer; they need to be tested for impairment instead. Then I will mention about the post-implementation review about IFRS 3 of IASB alongside with for and against opinions and researches. Moreover, earnings management is now one of the critical issues when mentioning accounting for goodwill because executives usually use discretion opportunistically to transport private information on future cash flows. Most of the studies in this paper are from the U.S. and Europe because researchers usually choose these areas to conduct their tests.
URI(1): http://epub.vgu.edu.vn/handle/dlibvgu/625
Rights: Attribution-NonCommercial 4.0 International
Appears in Collections:Finance & Accounting (FA)

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