Review of Valuation for Financial Reporting : Fair Value Measurements and Reporting, Intangible Assets, Goodwill and Impairment (Hardcover)

As a graduate accounting student, I read this book for an Accounting Information Systems seminar course.I found the book to be not only full of useful information, but also very reader-friendly.The authors' organization of the book, which is broken into three main sections: 1) Introduction and History, 2) FAS 141 and, 3) FAS 142 was very clear and easy to follow.Additionally, and perhaps the most important feature of the book were the in-depth examples of how to value various intangible assets given in following the explanation of FAS 141.Then, the author continued with the same examples when discussing application of impairment testing found in FAS 142.

For many accounting students, myself included, the idea of auditing the values placed on intangible assets is rather daunting; however, the authors' did an excellent job giving valuers a jumping point from which to begin their analysis.The book also provided a timeline of FASB statements and pronouncements dealing with valuation of mergers and acquisitions.Particularly interesting was the discussion of the need for new guidance as the numbers of mergers and acquisitions increased heavily over the last decade.

The only criticism of the book was the lack of future-looking information regarding upcoming changes to the current practices.Additionally, the issues of valuing existing at-will workforces, as well as the future of R&D costs were only touched on, and further information would have been appreciated.Finally, I might have included some analysis of the differences between the FASB's requirements for merger and acquisition accounting compared to the International Standards available on the issues.Other than these small issues, however, I found the book invaluably useful.

I would sincerely recommend this book to any person interested in understanding the implications and application of FAS 141 and 142.




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