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Calculating the impairment cost is the same as under the Incurred Loss Model. For example, assume a company has an investment in Company A bonds with a carrying amount of $37,500. If their market value falls to $33,000, an impairment loss of $4,500 is indicated and the impairment cost calculated as follows:
IFRS 9 began as a joint project between IASB and the Financial Accounting Standards Board (FASB), which promulgates accounting standards in the United States. The boards published a joint discussion paper in March 2008 proposing an eventual goal of reporting all financial instruments at fair value, with all changes in fair value reported in net income (FASB) or profit and loss (IASB). [1]
The kind of contract modification performed by the law in question was arguably similar to the kind that the Framers intended to prohibit, but the Supreme Court held that this law was a valid exercise of the state's police power, and that the temporary nature of the contract modification and the emergency of the situation justified the law. [21]
Impairment may refer to: In health, any loss or difference of physiological, psychological, or anatomical structure or function, whether permanent or temporary. Identifying impairments that contribute to disability is a key factor for a health professional to determine appropriate treatment.
There must be an occurrence of a condition, the nonoccurrence of which was a basic assumption of the contract, The occurrence must make performance extremely expensive or difficult This difficulty was not anticipated by the parties to the contract (note: some jurisdictions require that there be no measure within the contract itself to allocate ...
Asquith LJ in the Court of Appeal held that Newman Industries only had to compensate for the ordinary, not the extraordinary loss of profits. He distinguished losses from "particularly lucrative dyeing contracts" as a different type of loss which would only be recoverable if the defendant had sufficient knowledge of them to make it reasonable to attribute to him acceptance of liability for ...
In accounting, an impaired asset is an asset which has a market value less than the value listed on its owner's balance sheet.. According to U.S. accounting rules (known as US GAAP), the value of an asset is impaired when the sum of estimated future cash flows from that asset is less than its book value.
Nudum pactum in Latin literally means ' naked promise ' or ' bare promise '.In common law, it refers to a promise that is not legally enforceable for want of consideration.An example of a nudum pactum would be an offer to sell something without a corresponding offer of value in exchange.