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An Analysis of the Initial Adoption of Fas 141 and 142 in the Pharmaceutical Industry
Academic journal article from Academy of Accounting and Financial Studies Journal, Vol. 10, No. 3
Beginning of article
ABSTRACT
In 2001 the Financial Accounting Standards Board issued FAS 141 Business Combinations, and FAS 142 Goodwill and Intangible Assets. These new accounting standards significantly changed the accounting for mergers and acquisitions, dramatically altering how business combinations are reflected in the surviving company's financial statements. These new rules are particularly relevant for companies in industries that rely heavily on intellectual capital to generate future cashflows, or those that are characterized by considerable mergers and acquisitions activity.
Documenting how these new standards are initially applied provides valuable insight into their impact on …
