Furthermore, the Boards believe a standard should improve the usability of financial information in regard to business combinations by explaining which assets and liabilities are to be recognized, by requiring that the assets obtained and the liabilities taken on are measured consistently and relevantly, and by ensuring that like events are comparably accounted for via a clearly defined scope of the standard.
The important elements of marketing plan are to precisely define the business, identify the goals and serve as the firm's resume. Pro forma balance sheet, an income statement, planning precise strategies and cash flow analyses comprises the basic components of a marketing plan. Preparing a marketing plan helps in the allocation of resources properly, making good decisions and handling of unseen or unexpected complications that may become hurdle in the future development of the business. One of the important aspects of marketing plan is that it provides organized information about the company and importantly a good business plan helps in attaining a loan application. Other important applications include informing the details of the company to the sales personnel, suppliers and others so that they become aware of company's goals and achievements.
To date, the Greyson Corp. and Cameron Aerospace Corp. ...
In addition, it was decided that the final Statement should provide accounting guidance for the purchaser for both intangible assets that will not be used in a traditional manner as well as intangible assets that will be used for a period less than their useful life.
The Boards also established definitions for a business combination, an acquirer, and the business combination acquisition date. They also made an assertion regarding the responsibilities of an acquirer once control of an acquiree is obtained. In addition, the recognition principle, fair value measurement principle, and disclosure principle were confirmed as the main principles for applying the acquisition method. Each of these definitions, assertions, and principles provide a foundation for a final Statement on business combinations, which is the next step in this project. The Boards will meet separately to discuss the accounting for specific types of intangible assets acquired as part of a business combination, and how an acquirer should recognize measurement period adjustments (i.e. retrospectively or prospectively). They will meet jointly in the same month to talk about the measurement attribute for business combinations and how to measure non-controlling interests. It is then expected that the final Statements on business combinations and non-controlling interests will be issued in the second quarter of 2007.
Challenges may arise for the Boards if an agreement cannot be met regarding how the acquirer and/or how noncontrolling interests should recognize measurement period adjustments should be measured. If disagreements occur, the final Statements could be postponed.
b) Identify whom the issue affects.
This issue affects acquirers involved in a business