What should you do after attending a college fair?

Write a team consensus response of 525 to 700 words to include the following: • Provide detailed rational of why goodwill must b

grin007 [14]

1)Provide detailed rational of why goodwill must be adjusted for impairment

U.S. generally accepted accounting principles (GAAP) require companies to review their goodwill for impairment on an annually basis at a reporting unit level. Events that are considered as the main causes of goodwill impairment include deterioration in economic conditions, increased competition, loss of key personnel, and regulatory action

Explanation:

1)Provide detailed rational of why goodwill must be adjusted for impairment

U.S. generally accepted accounting principles (GAAP) require companies to review their goodwill for impairment on an annually basis at a reporting unit level. Events that are considered as the main causes of goodwill impairment include deterioration in economic conditions, increased competition, loss of key personnel, and regulatory action

2) List the tests for impairment. 

Impairment test is an accounting procedure carried out to find out if an asset is impaired( i.e. whether the economic benefits that the asset embodies have dropped drastically.)

As per US GAAP, if the carrying value of an asset exceeds the sum of undiscounted expected cash flows of an asset, the asset is impaired

3)Explain the meaning of a non cash impairment charge

A non-cash charge is a accounting expense that does not involve a cash payment.

(Depreciation, amortization, depletion, stock-based compensation, and asset impairments are common non-cash charges that reduce earnings but not cash flows)

5 0

3 years ago

Your company has sales of $ 93,600 this year and cost of goods sold of $ 64,700. You forecast sales to increase to $ 117, 400 ne

Gre4nikov [31]

Answer:

COGS= $81,146.88

Explanation:

Giving the following information:

Your company has sales of $93,600 this year and the cost of goods sold of $64,700. You forecast sales to increase to $ 117, 400 next year.

First, we need to calculate the percentual participation of cost of goods sold:

%COGS= 64,700/93,600= 0.6912= 69.12%

Now, using the same percentage, we calculate the cost of goods sold for the estimated new sales:

COGS= 117,400*0.6912= $81,146.88

3 0

3 years ago

Mi familia y yo fuimo al cine y noscoperamo papra la entrada que fue $245 si mi hermana dio 1/5 del total mientras yo di 4/10 y

Blizzard [7]

Answer: (55 x 30) + 245 = 1895

Explanation:

translation from spanish to english: My family and I went to the movies and we collected for the entrance that was $ 245 if my sister gave 1/5 of the total while I gave 4/10 and my father gave the rest how much money each one contributed.

Spanish:

la parte superior es la respuesta, espero que esté bien.

english:

the top is the answer, hope it was right.

7 0

2 years ago

When Yahoo! develops new online services, the company develops a version of the service and shows it to customers. It solicits i

Assoli18 [71]

Answer:

Correct Option is B (Rapid Prototyping)

Explanation:

Correct Option is B (Rapid Prototyping)

Rapid Prototyping is a technique which is used to test a new technology or hypothesis by giving it to the customer. Customer then use the product and provide feedback. From the customer feedback, changes are made according to the requirement and the feedback provided by the customer.

7 0

3 years ago

Beginning inventory for the month contained 2,000 units that were 70 percent complete with respect to materials. During the mont

pickupchik [31]

Answer:

a. 60,600

Explanation:

Given,

The number of units completed and transferred out = 6000,

Ending inventory = 3,000,

Percentage of completed units with respect to materials = 20%,

So, the additional completed units = 20% of 3000

$=\frac{20\times 3000}{100}$

$=\frac{60000}{100}$

= 600

Hence, the weighted average equivalent units of production for materials for the month = 60,000 + 600

= 60, 600

OPTION A would be correct.

6 0

2 years ago