ACCOUNTING CHANGES AND ERROR CORRECTIONS
obsolete inventory, and warranty obligations, among others. Sometimes, a change in estimate is affected by a change in accounting principle (e.g., a change in the depreciation method for equipment). A change of this nature may only be made if the change in accounting principle is also preferable. Note: A critical element of analyzing whether a ...
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A NEWSLETTER FROM BDO’S NATIONAL …
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REVENUE FROM CONTRACTS WITH CUSTOMERS – …
www.bdo.comMay 2015 | www.bdo.com REVENUE FROM CONTRACTS WITH CUSTOMERS – HARDWARE INDUSTRY OVERVIEW In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers.ASU 2014-09 establishes comprehensive accounting guidance for revenue …
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BDO’S US GAAP AND IFRS COMPARISON SERIES …
www.bdo.comAn intangible asset not yet available for use is tested for impairment in the same manner as an indefinite-lived intangible asset until it is available for use The annual impairment test for an indefinite-lived intangible asset must be a quantitative test The impairment test compares the carrying amount to the recoverable amount (defined above).
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