In a period in which an impairment loss occurs, SFAS No. 142 requires each of the following note disclosures EXCEPT:
A) a description of the facts and circumstances leading to the impairment.
B) the amount of goodwill by reporting segment.
C) the method of determining the fair value of the reporting unit.
D) the amounts of any adjustments made to impairment estimates from earlier periods, if significant.

Question

Quizplus · Accepted Answer

SFAS No. 142 requires disclosures related to impairment of goodwill and other intangible assets, but it does not specifically require the disclosure of the amount of goodwill by reporting segment in the notes. The other options (A, C, D) are required disclosures related to the impairment loss.

In a Period in Which an Impairment Loss Occurs, SFAS