ASC 350 Intangibles – Goodwill and Other: Goodwill Impairment for Financial Reporting and Step Zero Test
Overview Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 350 provides guidance on financial accounting and reporting related to goodwill and other intangibles for U.S. GAAP, other than the accounting at acquisition for goodwill and other intangibles acquired in a business combination or an acquisition by a not-for-profit entity.Per ASC 350, originally issued […]
Houlihan Capital’s whitepaper on ESOPs
Houlihan Capital’s whitepaper on ESOPs What is an ESOP? An Employee Stock Ownership Plan (“ESOP”) is a defined contribution retirement plan, authorized by the Employee Retirement Income Security Act (“ERISA”) similar to a profit sharing plan. Passed by Congress in 1974, ERISA provides tax incentives to establish ESOPs in accordance with the Department of Labor […]