SFAS #141, Business Combinations, and SFAS #142, Goodwill and Other Intangible Assets.
Many resources are now available for those seeking guidance on implementing Statements 141 and 142, and some of these are discussed below:
FASB: Copies of Statements 141 and 142 are available online from the FASB Web site (www.fasb.org) at $13.75 each. Click on "Publications" and go to "Online Ordering."
The FASB also released FASB Staff Announcement, Topic No. D-101, "Clarification of Reporting Unit Guidance in Paragraph 30 of FASB Statement No. 142." The document is available at www.fasb.org under "Final FASB Staff Announcements from the Nov. 14-15, 2001, EITF Meeting."
The Big Five Accounting firms have each produced informative and useful publications. Some examples follow:
Andersen provides an Accounting Reference Series. Its Controller's Supplement, Business Combinations, Goodwill, and Intangible Assets -- the New Rules, has many useful features. The Goodwill Comparison Chart shows how accounting under Statement 142 differs from accounting under Opinion 17 in regards to scope, applicability, recognition, measurement, amortization, impairment, financial statement presentation and disclosure.
Of special interest is the Valuation Specialist Primer. This checklist-format primer contains issues to consider when looking for a valuation specialist or appraiser, determining the scope of the work and evaluating it when the job is completed.
This document is available free of charge as a PDF download from the FEI Web site (www.fei.org); click on "Financial Reporting" at the top of the home page and scroll down to "11/6/01."
KPMG LLP provides a 65-page analysis, Accounting for Business Combinations, Goodwill and Intangible Assets: An Analysis of FASB Statements 141 and 142. This publication is also available as a PDF download from the FEI Web site (www.fei.org); click on "Financial Reporting" at the top of the home page and scroll down to "11/6/01."
Useful features include an eight-page comparison of Statements 141 and 142, with current practices in different areas. It provides good in-depth analyses of the statements, including a chapter devoted to guidance for and examples of new disclosure requirements. It also provides examples of intangible assets that meet the criteria for separate recognition.
PricewaterhouseCoopers LLP has released Shedding Light on the New Business Combinations Rules: A Guide for Deal Makers, which provides insights on what the new...