SFAS 141(R): Global Convergence And Massive Changes In M&A Accounting

Abstract

The Financial Accounting Standards Board issued SFAS 141(R) in December 2007 to replace SFAS 141. Analyzing comment letters, industry publications, and articles, we evaluate problems that existed with SFAS 141 from the perspective of users, professionals, and the FASB; evaluate 141(R) to ascertain if these weaknesses were corrected; and propose solutions to some of the problems that still exist.