Writer’s choice

Please answer the following questions:1. Describe the impact of asset impairment of property, plants, and equipment or goodwill to financial statements for entities across three different industries. Discuss similarities and differences and why these occur. In replies to peers, discuss whether you agree or disagree with your peers’ assessment and why.2. Identify three different industries and explain the revenue recognition practices that would be applied to entities within each industry. Discuss similarities and differences among the industries and why they exist. In replies to peers, provide additional practices that could be applied to the listed industries or examples of other industries that might have the same practices.Respond to the following with informative information.3. Class, let’s say you just read in the Wall Street Journal that a well-known company just had a large write-down of goodwill. What exactly does this say about management’s successes and failures?4. Impairment can be described as the abrupt changes in economic conditions, physical damage, changes in existing laws, or poor management rather than measuring how fair values decline (CFI.com, n.d.). In the real estate industry, a firm’s apartment building has a book value of $15M but shortly finds that the building appraises at $10M (Whalen, Baginski, & Bradshaw, 2018). GAAP requires a re-evaluation of future cash flows to determine impairment; if cash flows are greater than book value, no impairment is recorded (Whalen, Baginski, & Bradshaw, 2018). An international steel company originally acquired another firm for $13bn in 2006, but in 2013, due to weaker macroeconomics and market environment, management expected to revise cash flow expectation and thus had to record an impairment (CFI.com, n.d.). Some analysts may consider that the initial acquisition may demonstrate poor management investment practice or lack of future vision in the decline of market demands (CFI.com, n.d.).Reference CFI.com. (n.d.). What is impairment? Retrieved from https://corporatefinanceinstitute.com/resources/knowledge/accounting/impairment/Whalen, J., Baginski, S., & Bradshaw, M. (2018). Financial reporting, financial statement analysis and valuation(9th ed.) Mason, OH: Cengage Learning. ISBN-13: 9781337614689

Don't use plagiarized sources. Get Your Custom Essay on
Writer’s choice
Just from $13/Page
Order Essay
Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Live Chat+1(978) 822-0999EmailWhatsApp