Jove
Visualize
Contact Us
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies

Related Experiment Videos

Implementing SFAS No 121: Accounting for Impaired Assets.

R W Luecke1, D T Meeting, W G Stotzer

  • 1International Approval Services, Inc., Cleveland, OH, USA.

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|September 4, 1996
PubMed
Summary

Financial Accounting Standards Board (FASB) Statement No. 121 addresses asset impairment and disposal. Healthcare financial managers must understand its implications for accurately valuing long-lived assets.

Related Concept Videos

You might also read

Related Articles

Articles linked to this work by shared authors, journal, and citation graph.

Sort by
Same author

Milk studies; some vitamin and trace elements found in the colostrum of the dairy cow, beef cow and swine.

Archives of biochemistry·2010
Same author

The amino acid composition of bovine semen.

The Journal of biological chemistry·2010
Same author

The relationship of nicotinic acid, tryptophane and protein in the nutrition of the pig.

The Journal of nutrition·2010
Same author

AICPA standard can help improve audit committee performance.

Healthcare financial management : journal of the Healthcare Financial Management Association·2001
Same author

The FASB explores accounting for future cash flows.

Healthcare financial management : journal of the Healthcare Financial Management Association·2001
Same author

IRS issues new disclosure rules for tax-exempt organizations.

Healthcare financial management : journal of the Healthcare Financial Management Association·2000

Area of Science:

  • Financial Accounting
  • Asset Management
  • Healthcare Finance

Background:

  • Statement of Financial Accounting Standards (SFAS) No. 121 was issued in March 1995.
  • This standard addresses accounting for the impairment of long-lived assets.
  • It also covers accounting for long-lived assets designated for disposal.

Purpose of the Study:

  • To inform healthcare financial managers about SFAS No. 121.
  • To explain the implications of asset impairment accounting standards.
  • To ensure accurate financial reporting for long-lived assets.

Main Methods:

  • Analysis of SFAS No. 121.
  • Review of accounting standards for asset impairment.
  • Examination of asset disposal accounting principles.

Related Experiment Videos

Main Results:

  • SFAS No. 121 establishes criteria for recognizing and measuring asset impairment.
  • The statement provides guidance on assets held for disposal.
  • It requires adjustments when carrying costs exceed an asset's recoverable amount.

Conclusions:

  • Healthcare organizations must understand SFAS No. 121 for compliance.
  • Accurate application of impairment rules is crucial for financial statement integrity.
  • Understanding asset disposal accounting prevents overstatement of asset values.