SFAS中第144号关于资产减值实施效果的实证分析

1、implementing the impairment of assets requirementsof sfas no .144an empirical analysis(alan reinstein, school of business administration, wayne state university, detroit, michigan, usa, and gerald h. lander, college of business, university of south florida, st petersburg, florida, usa)in 2001, the f

2、inancial accounting standards board issued statement of financial accounting standards (sfas) no. 144, accounting for the impairment or disposal of long-lived assets (fasb, 2001). superseding the provisions of sfas no.121, accounting for long lived assets and for long lived assets to be disposed of,

3、 sfas no. 144 affects the measurement of all long-lived assets held for use or future disposal, including lessees1 capital leases, lessors* assets subject to operating leases, long-term prepaid assets and amortizable intangibles. its provisions also affect such other assets and liabilities as accoun

4、ts receivable and inventory. sfas no. 144 defines an asset group as the lowest level whose identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities, e.g. a specific production process.similarly, a disposal group represents a set of long-lived assets

5、 expected to be disposed of by sale or otherwise, focusing on assets and liabilities forming part of a single transaction.sfas no. 144 does not apply to goodwill, indefinite life intangible assets, financial instruments (including investments in equity securities accounted for under the cost or equi

6、ty method), deferred policy acquisition costs or deferred tax assets. however, while the scope of sfas 144 excludes the impairment of goodwill or other intangible assets, sfas no. 142, goodwill and other intangible assets, issued in 2001, addresses the impairment of goodwill and non-amortized intang

7、ible assets.sfas no. 144 classifies long-lived assets into three distinctive categories:(1) held and used.(2) disposed of other than by sale.(3) disposed of by sale.long-lived assets to be held and usedimpaired long-lived assets often produce major losses to holders of such assets. a long-lived asse

8、t becomes impaired when an individual long-lived asset's (or asset group's) carrying amount exceeds its fair value. such holders should recognize and measure impairment losses to determine potentially impaired long-lived by: considering whether impairment indicators (discussed later) arise;

9、testing long-lived assets for recoverability when certain impairment indicators arise; and recognizing an asset impairment loss only after assessing if the carrying amount of a long-lived asset is not recoverable and exceeds its fair value.recognition and measurementunder sfas no. 144, an assets car

10、rying amount is not considered recoverable 讦 its carrying amount exceeds the sum of the undiscounted cash flows expected to result from the assets use and ultimate disposal, regardless if the asset is in actual use or development. impairment loss equals the excess of the assets carrying amount over

11、its fair value.impairinent indicators-when to testfirms should test long-lived assets for recoverability when events indicate that carrying amounts may not be recoverable, such as significant: decreases in the market price of a long-lived asset (asset group); changes in the extent or manner that ass

12、ets are used; physical changes to the asset; adverse changes in legal factors or business climate that could affect the assets1 values or a regulator's adverse actions or assessments; cost accumulations exceeding the amount originally expected to acquire or construct the assets; current period o

13、perating or cash flow losses combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with an asset; and these provisions anticipate that the firm will more likely than not (i.e. greater than 50 percent probability) dispose o

14、f this asset before the end of its previously estimated remaining useful life.grouping assetsfirms should group long-lived assets tested for impairment with other assets and liabilities for which the lowest level of identifiable cash flows are largely independent of other assets and liabilities1 cas

15、h flows. asset groups including an entire reporting unit should include goodwill in the asset group tested for impairment. however, firms should exclude goodwill from such an asset group if it is only part of a reporting unit. firms testing impairment on a long-lived asset within an asset group shou

16、ld adjust the carrying amount of other assets within the group that are not subject to sfas no144's requirements (e.g. provide an allowance for doubtful accounts and adjust inventory to its net realizable value).cash flow estimatessfas no. 121 considers only expected future cash inflows less ass

17、ociated (i.e. directly related) cash outflows (excluding interest charges) expected to occur from using and disposing of the asset (group). sfas no. 144 provides additional guidance to implement the above basic requirement, focusing on: the estimation approach; the estimation period; and types of as

18、set-related expenditures to conside匚the estimation approachfirms should use reasonable assumptions to estimate their own use of assets, consistent with other information for similar periods. but firms contemplating alternative plans or estimated ranges of possible outcomes should consider the likeli

19、hood of those possible outcomes.the estimation periodfirms should use appropriate estimation periods to determine their assets1 estimated future cash flows and remaining estimated useful lives over the period that they expect to receive service potential (i.e. the remaining useful life to the entity

20、) from the long-lived asset (s). for long-lived assets that are part of an asset group, the cash flow estimation period is the remaining useful life of the primary asset of the group. indefinite-lived assets, such as land and intangible assets not being amortized，are ineligible to be the primary ass

21、ets of the group.example. xyz company tests its long-lived asset group for recoverability purposes. it first decides that machinery is a production group's primary asset, since this high-tech hydraulic equipment critically builds the groups capacity to generate cash flows, although its carrying

22、value is not the largest in the group. the machinery also meets other tests that identify it as the primary asset, especially considering that without the machinery, production would cease and xyz could not produce other assets. the machinery has an eight-year useful life, while other assets in the

23、group have useful lives of six years, 11 years and 12 years xyz then ascertains that for purposes of testing recoverability, future cash flows of the asset group should be projected over the life of this critical machinery: eight years.allocating impairment losssfas no. 144 indicates that any impair

24、ment loss to a long-lived asset or an asset group reduces only the carrying amounts of that asset or group. the loss will be allocated to the long-lived assets of the group on a pro rata basis using the relative carrying amounts of those assets. however, the loss allocated to an individual long-live

25、d asset of the group will not reduce the carrying amount of that asset below its fair value. if an impairment loss is recognized, the adjusted carrying amount of a long-lived asset will be its new cost basis- for a depreciable long-lived asset, the new cost basis will be depreciated (amortized) over

26、 the remaining useful life of that asset. restoration of a previously recognized impairment loss is prohibited.example. gcs company owns a manufacturing facility that, along with other assets, it tests for recoverability as a group. the asset group also includes accounts receivable, inventory (repor

27、ted at the lower of cost or market) and other current assets and liabilities not covered by sfas no. 144. the $3.1 million aggregate carrying amount of the asset group is not recoverable and exceeds its fair value by $700,000. thus, cgs allocates the $700,000 impairment loss to the long-lived assets

28、 of the group (table).asset-related expendituresdevelopment substantially complete. firms with a substantially complete asset should estimate future cash flows based on that assets existing service potential at the dates of impairment, considering the assets remaining useful life, cash-flow-generati

29、ng capacity and physical output capacity. they should consider future cash outflows needed to maintain the long-lived assets existing service potential (e.g. repairing an existing laser saw machine), but not future capital expenditures that would increase the assets service potential (e.g. adding a

30、new laser saw to the machine in order to expand its productive capacity).asset under development. firms should include cash flows related to all future expenditures to substantially complete the asset to measure the recoverability of long-lived assets under development, such as capitalizable interes

31、t payments under sfas no. 34.comparing estimated cash flows to carrying amountafter estimating future cash flows to test recoverability, if the assets carrying amount exceeds the sum of the estimated future cash flows，a recognized impairment loss arises equal to the amount that the cairying amount o

32、f the asset exceeds its fair value.fair value and new cost basissfas no. 144 sets an assets fair value as the amount that the firm could buy or sell it in a current single transaction between willing parties (i.e. other than in a forced or liquidation sale). firms recognizing impairment losses by re

33、ducing a long-lived asset to fair value will have such fair value become the assets new cost base.reporting and disclosureimpairment losses should be presented within income from continuing operations before income taxes. the notes to the financial statements should include: description of impaired

34、long-lived asset (group) and circumstances leading to the impairment; amount of impairment loss and caption in the statement of income that includes the loss, if not presented separately on the face of the statement; method(s) to determine fair value; and segment in which the impaired long-lived ass

35、et (asset group) is reported, if applicable.long-lived assets to be disposed of other than by salefirms should continue to classify a long-lived asset or an asset group as held and used until they plan to dispose of it by: abandonment; exchange for similar productive long-lived assets, or distributi

36、on to owners in a spin-off.they should classify swapped or spun off long-lived assets as held for use until the transaction occurs. at the transaction date, they should recognize impairments for the excess of the cairying amount over fair value, and classify abandoned assets as held for use until th

37、ey stop using them. abandoned or spun off groups of long-term assets also become part of discontinued operations at the disposition date.example. on 1 july 2002, y company planned to abandon on 30 june 2003 a special type of drill press used for operations owing to a decrease in business. y purchase

38、d this drill press ten years ago for $200,000, estimated its useful life at 15 years and salvage value at $5,000.this abandonment decision has cut the asset's remaining useful life from five years to one year, and the company will use apb opinion 20 to account for this change. thus, on 1 july 20

39、02, the drill press1 carrying value of $67,000 will be depreciated over the next year, making estimated salvage value as $5,000 on 30 june 2003, the date of abandonment. however, since the early abandonment decision is considered an impairment indicator, y company should perform a recoverability tes

40、t on july 1，2002 to determine if the $67,000 is recoverable over the next year. since the $5,000 salvage value is nominal, the drill press is not subject to statement no. 144's "held for sale” provisions. if the recoverability test shows that the asset's fair value is not recoverable (m

41、easured by the estimated undiscounted cash flows of only $8,000), the fair value of the drill press should be determined. thus, an impairment charge of $59,000 ($67,000 less $8,000) should be recorded on 1 july 2002 and $3,000 should be recorded as depreciation expense (the new carrying amount of $8

42、,000 less savage value of $5,000) over the next year. however, no impairment loss should be recorded if the drill press1 carrying value had been recoverable.long-lived assets to be disposed of by salerecognitionnot requiring a binding agreement for future sale, a long-lived asset or disposal groupca

43、nnot be considered held for sale unless it meets all of the following criteria: management, w让h the authority to approve the action, commits to a plan to sell the asset; the asset is available for immediate sale in its present condition, subject only to usual and customary terms for sale of such ass

44、ets; it actively markets the asset for sale at a reasonable price relative to its current fair value; it actively seeks to locate buyers and takes other actions to sell the asset; and significant changes to the plan seem unlikely, lest the firm will withdraw that plan.related costs to sell include i

45、ncremental direct transaction costs, but not future operating losses. firms no longer meeting such criteria should reclassify the long-lived assets as held and used.new acquired assetsfirms should classify a newly acquired long-lived asset that they plan to sell as held for sale at the acquisition d

46、ate only if: at the acquisition date, the firm meets the one-year requirement to transfer the asset; and any other held-for-sale condition of sfas no. 144 that the firm does not meet as of the acquisition date can probably be met within three months after the acquisition date.sfas中第144号关于资产减值实施效果的实证

47、分析(alan reinstein, school of business administration, wayne state university, detroit, michigan, usa, and gerald h. lander, college of business, university of south florida, st petersburg, florida, usa)在2001年，美国财务会计准则委员会发布的财务会计准则声明(sfas)第 144号一一长期资产减值或处置(fasb, 2001)替代了第121号中关于长期资 产和长期资产处置会计的规定。sfas屮

48、第144号的规定影响了所有持有以备使 用或准备未来处置的长期资产的计量，包括资本租赁资产、经营租赁资产、融资 性租赁资产和可摊销的无形资产。同时它也对其他资产和负债如应收帐款和存货 有所影响。sfas第144号中规定资产组是最小的资产组合，其产生的现金流应 基本上独立于其他资产组或负债组，例如一个特定的生产工艺。同样，一个处置组是由一系列预计将以出售或者其他的方式处置的长期资产 组成的，以资产和负债构成的一项交易。sfas第144号不适用于商誉、永久性无形资产，金融工具(包括以成本法 或权益法计量的权益性证券投资)、递延政策购买成本或递延所得税资产。然而， 虽然sfas第144号中没有规定商誉

49、和其他无形资产的减值,2001年颁布的sfas 第142号一一商誉和其他无形资产中则规定了商誉和不摊销的无形资产的减值。sfas第144号把长期资产分成三个独特的范畴：(1) 持有并使用；(2) 通过除出售以外的方式处理。(3) 通过出售处理。持有并使用的长期资产减值的长期资产往往会给这些资产的所有者带来重大损失。当一项资产或资 产组的账面价值超过其公允价值时，这项资产或资产组就发生了减值。如果根据 以下方法测试后该资产确实发生了减值损失，则持有该项资产或资产组的企业就 需要确认和计量该项减值损失：考虑减值迹彖是否升高；如果减值迹象升高，则估计该长期资产的可回收金额；如果经过评估，一项长期资产

50、的账面价值不可能回收且超过其公允价 值，则确认该项资产的减值损失。确认和计量sfas第144号中规定，无论一项资产是实际使用或开发，如果该项资产的 账面价值超过了其在使用过程中和最终处置时所期望产牛的预计现金流量总额， 则认为一项资产的账面价值是不可回收的。减值损失就是该资产的账面价值超过 其公允价值的部分。减值迹象一一测试时间当重大的减值迹象预示着资产的账面价值不可回收时，公司应对该项长期资 产进行减值测试： 一项长期资产或资产组的市价下跌；资产使用的方式或强度发生变化；资产的物理形态发生变化；法律或经济因素的不良变化对资产的价值、监管者的行为或评估的影 响；取得或构建资产累计发生的成本超过

51、了最初预期的数量；当期的经营或现金流损失与历史相结合预示着与该项资产相关的持续 损失；这些现象预示着，与资产原先评估的剩余使用寿命相比，公司将更可能 （可能性50%）提前将其处置。资产组资产组是企业可以认定的最小资产组合，其产生的现金流基本上独立于其他 资产或负债。公司应将长期资产与其他资产和负债进行减值测试。如果资产组是 一个完整的报告主体，则资产组在进行减值测试时应当包括商誉。如果资产组只 是报告主体的一部分，则企业在对资产组进行减值测试时应排除商誉。依据sfas 第144号的规定，企业在对资产组中的某项长期资产进行减值损失测试时，应当 首先对资产组内的其他资产的账面价值进行调整，例如设置

52、一个备抵可疑帐户， 然后将存货调整成其可变现净值。现金流的估计sfas第121号中只考虑资产或资产组在使用和处置中将会产生的预计未来 现金流入减去与其直接相关的现金流岀（不含利息）。而sfas第144号中提供 了以下几点额外的需要考虑的因素以便对预计未来现金流量进行估计：评估方法；评估期间；与资产相关的费用类型。评估方法公司应采取合理的假设去对其使用的资产进行评估，采用与类似时期相符合 的信息。但是公司在考虑替代计划或可能发生的评估结果时，应考虑那些可能结 果发生的可能性。评估期间企业应使用适当的评估期间去评估资产的预计未来现金流量和企业期望从 长期资产的使用屮得到回报的预计未來使用寿命（例如

53、实体的剩余使用寿命）。 对丁资产组中的长期资产，其产生现金流的评估期间是资产组中主耍资产的剩余 使用寿命。永久性资产，如土地和不进行摊销的无形资产，不能做资产组中的主 要资产。例如：xyz公司对其长期资产组进行可回收性测试。首先，它认定机械是 牛产集团的主要资产，因为这一高科技液压设备构成了集团形成现金流能力的关 键，尽管其价值并不是集团中最人的。该机器在其他测试中也被认定为主要的资 产，特别是考虑到没有机械生产将停止，xyz将不可能生产其他资产。该机器 有八年的使用寿命，而资产组屮的其他资产的使用寿命有6年，11年和12年。于 是，xyz确定为了测试可回收性，资产组未来产生现金流量的年限应为

54、该机器 的使用寿命：八年。分配减值损失sfas中第144号中表明任何一项长期资产或资产组的减值损失只会减少该 资产或资产组的账面价值。资产组中各项长期资产的减值损失将会按照其账面价 值在资产组总账面价值中所占的比例进行分摊。但是，分摊到资产组中每项长期 资产的资产减值不会使其账面价值低于其公允价值。如果一项长期资产的减值损 失被确认，则其调整后的账面价值将成为其新的成本。比如对于计提折【口的长期 资产来说，新的成本将在该资产的剩余使用寿命中进行折旧摊俏。资产减值损失 一经计提，在以后期间不准转回。例如：gcs公司在可回收性测试中将其所拥有一个生产设施，和其他资产 一起，视为一个资产组。该资产组还包括应收帐款、存货（低于成本和市价）和 其他sfas第144号中没有规定的流动资产和负债。该资产组的账面价值是310 万美元，超过了它的公允价值700000美元。因此，该公司将700000美元的减值 损失分配到该资产组中的各项长期资产中。与资产相关的费用开发已大致