Question -
What is impairment of operational assets? How do we determine whether an impairment exists? How do we calculate the impairment loss? Goodwill impairment has special accounting rules. Please analyze SFAS No. 142 and its provisions relative to goodwill.
Please define cost allocation for operational assets. What are the various time-based and activity-based methods used to allocate these costs? How does cost allocation differ for fixed assets, intangible assets, and natural resources?