I’ve attached all the documents needed to perform this task, as well as comments

By
Responsive Centered Red Button

Need Help with this Question or something similar to this? We got you! Just fill out the order form (follow the link below), and your paper will be assigned to an expert to help you ASAP.

Order Form

I’ve attached all the documents needed to perform this task, as well as comments from the graders as to why this draft isn’t accepted. Below are comments from my professor. The only source is the FASB Accounting Standards Codification Database. The bulk of the project is done. The calculations at the end are wrong. I can’t pinpoint what is wrong and the professor has given all he’s going to give. I’m thinking with the calculations, it will be 2 pages of work. Per the evaluator’s comment, you’ve calculated parts of the fixed asset and inventory impairments correctly. And you need these numbers, and to do something with them, before you even get to the goodwill impairment testing. So, correct the two items that need correcting before you move forward to the goodwill impairment testing. In your Step 2 of the fixed assets impairment testing, you are using the wrong numbers to get the impairment amounts for the noted asset groupings. The codification tells you (perhaps, section 360?) how to carry out the fixed asset impairment testing and the task pdf gives you an outline of it as well. Again, the fixed assets and inventory impairment testing is separate from the goodwill impairment testing. Then, on your inventory loss calculations for TL, you have the correct “market” value noted but the -0- loss you calculated is not correct. Your inventory loss amount is correct for DJ. Your goodwill impairment testing needs to compare the updated identifiable net assets amount (this would be the net assets carrying/book value per the balance sheet, but adjusted by the fixed asset and inventory impairments, which will give you a new carrying/book value for identifiable net assets) to the overall fair market value of the segment, i.e., the appraisal amount. And remember that the appraisal amounts would presumably include goodwill, if any. Which is why you need to add the respective goodwill amount to the updated net assets figure before comparing to the overall fair market value. This is what I found in the FASB codification (350-20-35-73, but also 350-20-35-4 thru 350-20-35-8): “A goodwill impairment loss, if any, shall be measured as the amount by which the carrying amount of an entity (or a reporting unit) including goodwill exceeds its fair value. A goodwill impairment loss shall not exceed the entity’s (or the reporting unit’s) carrying amount of goodwill.” In the FASB language above, the carrying amount is the updated carrying value you calculate after getting the fixed asset and inventory impairment losses (you have everything you need to get these numbers). Then you would add the goodwill (these numbers are provided/ included in the task) to it (since the above says to include goodwill). Now, compare them and complete the goodwill impairment testing. In the above, the fair value is the appraisal amount provided in the task scenario.

How to create Testimonial Carousel using Bootstrap5

Clients' Reviews about Our Services