03/02/2010
New Corp Fin Financial Reporting Manual
By Cydney Posner
The SEC has today posted a new corp fin financial reporting manual, which has been updated for revisions to Topic 8: Non-GAAP Measures of Financial Performance, Liquidity and Net Worth, including some updates related to the new C&DIs, but nothing (that I saw) about the staff's asserted position regarding disparities between NGFMs in public communications and in SEC filings (see my email of 2/26/98).
The revision also includes Section 9500: Critical Accounting Estimates — Goodwill Impairment. This section outlines the recommended disclosures for reporting units that are at risk of failing "step one" of the test for impairment of goodwill (e.g., if the unit had a fair value that is not "substantially" in excess of carrying value as of the date of the last impairment test).