“Push-down Accounting and the Recording of Both Tangible Assets and Intangible Assets”
you are the chief financial officer (CFO) of a corporation with plans
to complete the acquisition of a key subsidiary during the current year.
Your chief executive officer (CEO) has requested a presentation to the
Board of Directors describing the methods available to account for the
acquisition internally and the best method for the company during the
acquisition year. Please assess the value of each method identified in
your presentation to the Board and support your recommendation with
the key differences between the U.S. GAAP and IFRS positions on both
intangible research and development costs and tangible depreciable
assets. Indicate the key benefits and drawbacks to financial statement
users of each method (U.S. GAAP and IFRS). Next, determine the method
that provides the most relevant information to financial statement
users. Provide support for your rationale.
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