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SFAS 141 & 142
Arcstone provides independent opinions of value for intangible assets and goodwill for compliance with SFAS 141. Similarly, we perform testing for goodwill impairment as part of our clients’ ongoing financial reporting processes, otherwise known as SFAS 142.
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SFAS 141 mandates the use of purchase accounting for all business combinations. Application of the purchase method requires identification of all assets of the enterprise, tangible and intangible. From that information, including knowledge of any liabilities, we can accurately classify goodwill.
SFAS 142 requires companies to test existing goodwill annually for impairment. This two-step process first involves the determination of the fair value of each business unit and then the comparison of those determined values to the carrying value of each of the various assets. From there we can determine if impairment of goodwill exists.
Arcstone is a qualified independent provider of these vital services. Our experienced valuation specialists hold the requisite qualifications to satisfy the requirements under the Statement on Auditing Standards 73, Using the Work of a Specialist and are routinely subject to SAS 73 reviews.