SFAS 144 definition

SFAS 144 means the Statement of Financial Accounting Standard Number 144 entitled “Accounting for the Impairment or Disposal of Long-Lived Assets” issued by the Financial Accounting Standards Board in August of 2001, as amended and in effect from time to time.
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Examples of SFAS 144 in a sentence

  • Under SFAS 144, an asset shall be tested for impairment when events or circumstances indicate that its carrying value may not be recoverable.

  • Long-lived Assets Effective January 1, 2002, we adopted SFAS 144, "Accounting for the Impairment or Disposal of Long-Lived Assets".

  • Pursuant to the provisions of SFAS 144, the Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable.

  • SFAS 144 superceded SFAS 121, "Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of".

  • The adoption of SFAS 144 had no effect on our results of operations.

  • SFAS 144 supersedes Statement of Financial Accounting Standards No. 121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of ("SFAS 121"), but retains many of its fundamental provisions.

  • The provisions of SFAS 144 are effective for fiscal years beginning after December 15, 2001, and are to be applied prospectively.

  • Statement of Financial Accounting Standards No. 144 (SFAS 144), Accounting for the Impairment or Disposal of Long-Lived Assets, is effective for financial statements issued for fiscal years beginning after December 15, 2001.

  • The scope of SFAS 144 excludes goodwill and other intangible assets that are not to be amortized, as the accounting for such items is prescribed by SFAS 142.

  • However, SFAS 144 retains the requirement in APB 30 to separately report discontinued operations, and broadens the scope of such requirement to include more types of disposal transactions.