SFAS 142 definition

SFAS 142 means Statement of Financial Accounting Standards No. 142, Goodwill and Other Intangibles.
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SFAS 142 means the Statement of Financial Accounting Standards No. 142 (Goodwill and Other Intangible Assets), as issued by the Financial Accounting Standards Board in June, 2001, and applicable to all fiscal years beginning after December 15, 2001."
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Examples of SFAS 142 in a sentence

  • SFAS 142 requires, among other things, the discontinuance of goodwill amortization.

  • Under SFAS 142, goodwill is no longer amortized but rather is tested for impairment at least annually.

  • Based on the guidance provided by SFAS 142, the Company evaluates its goodwill for impairment at least annually and would make such an evaluation more frequently if indicators of impairment should arise.

  • The client can at any time be supplied with a dedicated skipper from W Yachts GmbH to provide safe and professional nautical journey, backed with years of experience unless agreed otherwise.

  • Further in accordance with SFAS 142 purchased intangible assets other than goodwill are amortized over their useful lives unless these lives are determined to be indefinite.

  • SFAS 142 is effective for fiscal years beginning after December 15, 2001.

  • The intent of FSP FAS 142-3 is to improve the consistency between the useful life of a recognized intangible asset under SFAS 142 and the period of expected cash flows used to measure the fair value of the asset under SFAS 141(R) and other applicable accounting literature.

  • SFAS 142 states that goodwill should not be amortized but tested for impairment for each reporting unit, on an annual basis and between annual tests in certain circumstances.

  • Under SFAS 142 goodwill is no longer amortized, but instead is tested for impairment at least annually.

  • It also requires, upon adoption of SFAS 142, that the Company reclassify the carrying amounts of intangible assets and goodwill based on the criteria in SFAS 141.


More Definitions of SFAS 142

SFAS 142 means the Statement of Financial Accounting Standards No. 142 (Goodwill and Other Intangible Assets), as issued by the Financial Accounting Standards Board in June, 2001, and applicable to all fiscal years beginning after December 15, 2001.
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Related to SFAS 142

  • SFAS 140 means Statement of Financial Accounting Standards No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.

  • FASB means the Financial Accounting Standards Board.

  • Accounting Standard means GAAP.

  • Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;

  • Treasury Regulations means the regulations promulgated under the Code.

  • FAS means Free alongside shipment

  • auditing standards means auditing standards as defined in National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards;

  • Tax Regulations means the United States Treasury Regulations promulgated pursuant to sections 103 and 141 through 150 of the Code. “Yield” of

  • IRC means the Internal Revenue Code of 1986, as amended.

  • U.S. Treasury Regulations means the Treasury regulations of the Code. Reference to a specific Treasury Regulation or Section of the Code shall include such Treasury Regulation or Section, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.

  • Act of 2003 means the Protection of Employees (Fixed-Term Work) Act 2003;

  • Code Section 409A means Section 409A of the Code and all regulations issued thereunder and applicable guidance thereto.

  • Australian Accounting Standards means the accounting standards made by the Australian Accounting Standards Board in accordance with section 227 of the Australian Securities and Investments Commission Act 2001 (Cth).

  • Treasury Regulation means the United States Treasury regulations promulgated under the Code.

  • Act of 2004 means the Public Service Management (Recruitment and Appointments) Act 2004;

  • Act of 2007 means the Water Services Act 2007;

  • Exempt in reference to a case means a case designated as involving exceptional circumstances under CRC 3.714.

  • Act of 2001 means the Local Government Act 2001;

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • the Code means the Pension Regulator’s Code of Practice No 14 governance and administration of public service pension schemes.

  • Act of 2002 means the Communications Regulation Act 2002 (No. 20 of 2002);

  • FASB ASC means the Accounting Standards Codification of the Financial Accounting Standards Board.

  • Act of 2005 means theSocial Welfare Consolidation Act 2005;

  • Act of 2000 means the Planning and Development Act 2000;

  • ASC Topic 718 means the Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation – Stock Compensation, as amended or any successor accounting standard.

  • Section 409A means Section 409A of the Code and the regulations and other guidance promulgated thereunder.