Kentfield Corporation has $ 2 6 0 million of goodwill on its book from the 2 0
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Question:
Kentfield Corporation has $ million of goodwill on its book from the acquisition of Seaford Shipping. At the end of its fiscal year, management has provided the following information for a required goodwill impairment test $ in millions:
Fair value of Seaford approximates fair value less costs to sell $
Fair value of Seafords net assets excluding goodwill
Book value of Seafords net assets including goodwill
Present value of estimated future cash flows
Required:
Assuming that Seaford is considered a reporting unit for US GAAP and a cashgenerating unit for IFRS, determine the amount of goodwill impairment loss that Kentfield should recognize according to US GAAP and International Financial Reporting Standards IFRS
Related Book For
Financial Management for Public Health and Not for Profit Organizations
ISBN: 978-0132805667
4th edition
Authors: Steven A. Finkler, Thad Calabrese
Posted Date: