Question

1. Why is fair value accounting so important to companies such as News Corporation (mentioned in the chapter) that have substantial investments in goodwill recorded on their balance sheets?
2. News Corporation uses a discounted free cash flow valuation approach when assessing goodwill impairment. This valuation approach corresponds to which level of the FASB’s fair value measurement hierarchy?
3. Why doesn’t News Corporation use a Level 1 fair value measurement to assess goodwill impairment?



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  • CreatedSeptember 10, 2014
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