Starbucks prepares consolidated financial statements. Presented below are excerpts from Note 1 describing accounting policy, Note 2,
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a. How will the concept of fair value drive the accounting for future acquisitions?
b. Starbucks indicates that it will account for the change in standards relating to noncontrolling (minority) interests “prospectively.” What does that mean?
c. What caused the change in goodwill during 2008? What, if any, impairments were recorded?
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...
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a Recent business combination standards from both the FASB and IASB make it clear that fair value wi...View the full answer
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Related Book For 
Financial reporting, financial statement analysis and valuation a strategic perspective
ISBN: 978-0324789416
7th Edition
Authors: James M Wahlen, Stephen P Baginskl, Mark T Bradshaw
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