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Financial reporting

Financial reporting resources for valuation specialists.

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European Goodwill Impairment Study 2013

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In December 2013, Duff & Phelps published its first European Goodwill Impairment Study focused on goodwill impairment testing under International Financial Reporting Standards(IFRS).

Lease Accounting Exposure Drafts

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The FASB and IASB, through a joint project, have issued an Exposure Draft that will have significant implications for how companies account for leases going forward.

IFRS reporting

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Since the introduction of IFRS 3 ‘Business Combinations’, in 2004, acquiring companies have been required to report the fair values of intangible assets arising from an acquisition separately from the residual allocated to purchased goodwill. In 2009, the UK regulator, the Financial Reporting Council (FRC), performed a survey of the accounting for 20 significant acquisitions to review compliance with IFRS 3.

IFRS imposes strict goodwill standards

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IFRS imposes strict standards on accounting for goodwill. Despite the economic slowdown, European companies booked just €77.6bn of impairments in 2008. Marc Hayn of Houlihan Lokey says further write-downs are inevitable.