Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

تمرين 37

In July 2001, the FASB issued SFAS 142, which changed the accounting for goodwill and intangible assets.Upon adoption of SFAS 142, many companies recognized large goodwill impairment losses.For example, in 2002, AOL Time Warner (now Time Warner) recorded a $99 billion reduction in the carrying value of its goodwill-still one of the largest goodwill impairments.The SFAS 142 requirements continue under ASC Topic 350, Intangibles-Goodwill and Other.
Use the AOL Time Warner, Inc., 2002 SEC Form 10-K Annual Report and SFAS 142 to address the following issues and questions.
What business areas did AOL Time Warner designate as its reporting units Why is it important to define the reporting units