FASB anounces standard update on intangibles

The Financial Accounting Standards Board issued an accounting standards update on "Testing Indefinite-lived intangibles assets for impairment. Could somebody give an example on what it means in practice for an organization? Thanks!

http://www.marketwatch.com/story/fasb-issues-accounting-standards-u...

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ICountantPermalink Reply by Mary Adams on July 31, 2012 at 3:24pm

Waltraut- Here's a great explanation from Compliance Week using Coke as an example. If you have a long-lived asset and no reason to think the value has changed, it sounds like you don't have to re-value it.

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Permalink Reply by Waltraut Ritter on August 6, 2012 at 3:18am

Thanks, Mary, for this useful example.

Mary Adams said:

Waltraut- Here's a great explanation from Compliance Week using Coke as an example. If you have a long-lived asset and no reason to think the value has changed, it sounds like you don't have to re-value it.