Accounting


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A FASB statement will provide guidance on asset retirement obligations related to tangible long-lived assets, such as factories or storage facilities, that require expensive cleanup when decommissioned. The standard will focus on recognition and initial and subsequent measurement of liability, allocation of asset retirement cost and financial statement disclosures ( http://accounting.rutgers.edu/raw/fasb/project/aro.html ).

Businesses should test for impairment of the fair value of goodwill at least annually, says FASB, unless events or circumstances dictate more frequent appraisal. This tentative position emerges as FASB draws nearer to issuing final rules on business combinations ( http://accounting.rutgers.edu/raw/fasb/project/summ5101.html ; http://accounting.rutgers.edu/raw/fasb/project/buscomsumm.html ; http://accounting.rutgers.edu/raw/fasb/project/summ50901.html ).

SPONSORED REPORT

CPEOs provide peace of mind around payroll services

The creation of these new IRS-certified service providers for small businesses clarifies some issues around traditional professional employer organizations.

QUIZ

8 sentences to help you master subject-verb agreement

When professionals prepare written material for readers inside their organization or outside, they should make sure that no errors distract from the message they need to convey. Take this short quiz for practice in subject-verb agreement.