69:(FMV) and the book value and recording this amount as the loss. This basically records the asset as if it were being acquired brand new at its FMV, recording this as its new book value. This is a common occurrence for
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where a company will purchase a target company for more than the value of its net assets. Under US GAAP, goodwill is tested annually for impairment.
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Asset whose market value is lower than that listed in its owner's balance sheet
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Albrecht, S., Stice, E., Stice, J., & Swain, M. (2011).
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United States
Generally Accepted Accounting Principles
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105:(11th ed.). Mason: South-Western, p. 396–397
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103:Accounting: Concepts and applications
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