Living with SFAS 121: how to avoid (or record) an asset writedown. (Statement of Financial Accounting Standards 121: 'Accounting for the Impairment of ... article from: The National Public Accountant

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From the supplier: Statement of Financial Accounting Standards (SFAS) 121 is aimed at limiting a firm's chances to record long-lived asset writedowns. The FASB has provided a list of indicators that may necessitate negative value change so as to facilitate identification of long term or permanent value changes that are significant to the asset or its use within the firm. SFAS 121, however, gives sufficient leeway for management in estimating and applying the rules.

Citation Details
Title: Living with SFAS 121: how to avoid (or record) an asset writedown. (Statement of Financial Accounting Standards 121: 'Accounting for the Impairment of Long-Lived Assets to be Disposed Of')
Author: Linda J. Zucca
Publication:The National Public Accountant (Magazine/Journal)
Date: September 1, 1997
Publisher: National Society of Public Accountants
Volume: v42 Issue: n7 Page: p40(4)

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