Financial Reporting Of Countries : France, Germany, Czech Republic, The Netherlands, United Kingdom, And

vi) Goodwill- The beginning balance for Goodwill was determined by finding the difference between Total Assets and Total Liabilities at the beginning . Goodwill accounts for all the intangible assets that were transferred from the old company to the new company, including brand name, as well as a premium paid for the company. Goodwill was not amortized in this model.

of CGUs) and then to the other assets in the CGU (or groups of CGUs) pro-rata on the basis of the carrying amount of each asset in the CGU (or groups of CGUs). An impairment loss recognised for goodwill is recognised immediately in profit or

Since 2001, amortization would not permitted for goodwill assets. Instead write-down of goodwill entity with continuous losses must be done.

(1) Performed a key word search using goodwill, amortized. I scrolled down to section 35 subsequent measurement of topic 350 Intangibles- Goodwill and other.

financial statements” (Waxman, 2013, p. xiii). It is the purpose of this paper to discuss some of

In Germany, tax law has influence strongly on accounting and financial reporting. The historical is the main reason for this linkes is between taxation and financial reporting. In 1874, the corporate income taxation has been introduced to the Commercial Code in 1862. It was convenient to link corporate income taxation to existing financial statement. Moreover, EU Directives and the forces of globalization are the two main external factors that have influence financial reporting in Germany in recent years.Even before the EU’s decision; large German companies like Daimler-Chrysler that had their shares listed on foreign stock exchanges were already using internally acceptable accounting standards.

Any portion of the payment made in excess of the fair value of these assets and liabilities was attributed to an intangible asset commonly referred to as goodwill.

In intellectual property assets and software showed its opening balance, closing balance, additions, disposals, accumulated amortization and impairment currency translation differences and net amount. Goodwill just showed the opening and closing balance and currency translation difference not any impairment loss. However, in intangible capital work in progress, it also showed other more informationabout amount transferred to software intangibles and transferred from PPE. At the end of the notes 12 of intangible assets, it provided additional information about the amortization charge that was recognized in general and administration expenses in the statement of comprehensive income （CSL annual report 2011）and impairment tests for cash generating units containing goodwill. CSL Behring and CSL Blotheraples all were CSL’s goodwill. The total intangible assets in 2011 were lower than before because of amortization in every year.

Goodwill is an intangible asset for which the accounting methods are pronounced by FASB issued _SFAS No. 142_, "Goodwill and Other Intangible Assets." Goodwill is an earning power concept in which its value is an approximation equal to the discounted present value of future earnings that would exceed normal industry earnings. Goodwill is recognized as an intangible asset when it is acquired through a purchase of an existing company. Its value is determined by the excess of the total fair value above the fair value of distinguishable net assets. Amortization of goodwill is

A company may use capital leases to finance its acquisition of capital assets. In lease financing a company must met the criteria of the Financial Accounting Standards Board (FASB) on capital leases. In this a company must record both a liability, and a related asset on its balance sheet. In reporting capital lease a company reports the lease at its present value of the minimum lease payments. The company allocates these lease payments using the effective interest method to interest expense. This allocation using the effective interest method reduces the lease liability of the company.

In the event that the carrying amount of the reporting unit is greater than zero, then the second test of goodwill impairment is unnecessary according to FASB codification 350-20-35.6. This is because impairment of goodwill has been found to not be a condition in this result.

Goodwill is a long-term asset categorized as an intangible asset. The amount of goodwill is the cost to purchase the business minus the

One of these is with regards to goodwill and intangible assets with identifiable useful lives.

[pic] International Accounting Systems – ACC 570 Prerequisite: ACC 557 or ACC 560 | | | | | | |Quarter |Summer 2011 | |Meeting Days/Time |Online |

To: Mrs Maria Long, Manager Accounts Department, Cleanspace Ltd From: Date: Subject: Accounting Theory Team No. 29 24 March 2011 Report on Financial Reporting and Disclosure Practices of France