7 million in fiscal 2009 due to the pre-tax loss resulting from security writedowns
and higher loan loss provisions and to tax-exempt investments.
As the above example illustrates, the process of determining writedowns
is (or can be) a subset of the financial management system many companies already have in place.
There is very little guidance in authoritative pronouncements by the FASB, the SEC or the AICPA that govern the writedown
of operating assets.
Any further writedown
will depend on how the market moves over the next few months and our view of trading conditions at the time," he added.
1bn) rights issue due to further writedowns
at its Calyon investment banking arm of 1.
Barclays said there was "no substance" to rumours it was about to announce a 10 billion US dollar writedown
, or that bosses John Varley, chief executive and investment bank head Bob Diamond were poised to quit.
In E37, Research and Development Activities, the IASC agreed to two changes-the reinstatement of previously written-down development costs when the uncertainties that led to their writedown
no longer exist and the inclusion of development stage enterprises in the standard.
EBIT and Net Result were affected by the outcome of the impairment test made at 31 December 2012, which led to a writedown
of the goodwill at Group level for 156.
6 million writedown
of equity securities and a $748,000 increase in the provision for loan losses, partially offset by a $1.
75 million of this loss was a result of a writedown
in the Burau area of North Dakota.
We're hearing writedown
rumours on SocGen, but haven't got any figure," said a trader at a Paris investment bank.
Company expects fourth-quarter non-cash goodwill writedown
and asset impairment for Tim Hortons U.