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Goodwill is the direct result of a business combination. Sometimes referred to as “purchased goodwill”, Goodwill is the excess of the implied fair value of the subsidiary as a whole compared to the fair value of identified net assets (assets – liabilities) of the subsidiary. Example: If Potter Corp purchases…
In the 1980’s up to about 2013, companies ran their software on their own in office hardware. Today, software is often “hosted” in the cloud and fees are paid to a provider to “host” the software. Microsoft Office used to be a product that you could buy, install on your…
FAR candidates need to know how the new CECL (Current Expected Credit Loss) model applies to investment securities such has held to maturity debt securities. Held To Maturity Debt securities are carried at amortized cost at year end but if a held to maturity bond investment was issued by an…
The AICPA is implementing some changes to the FAR exam in January of 2020. Accounting for Credit Losses has changed from an already incurred model to a “current expected” credit loss model. The new model, nicknamed CECL, estimates expected credit losses over the lifetime of the asset. The new CECL…