financial letter

financial letter

the doc. Sample financial letter (1).pdf is an example of how the financial letter should be. I need to use only authoritative sources such as FASB codification or IFRS for question 4(b)

instructions:

William Jones, the controller for Ida Inc., is not familiar with the impairment rules, and he has asked your firm to research the issue. Write a letter to Mr.Jones explaining the proper accounting treatment. For the clients convenience,you should includeany required journal entries. The address of the company is 100International Boulevard, Brownsville, Texas 78520. You will need to come up with a name and address for your accounting firm.

– Assume the year in question is 2013 (not 2010).

– For Questions 1-4, only address the US GAAP accounting treatment (not IFRS).

– For Question 4(a), assume you and the company decided to bypass the qualitative assessment of goodwill.

– Do not answer Questions #3 and#5.

– Use todays date for the letter.

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