cognient group

Financial Reporting & Tax Compliance

We provide valuation and advisory services to address a number of financial reporting requirements. Utilizing best practices combined with market intelligence we prepare reports that meet stringent accounting guidelines.

  • ASC 350 Goodwill and Other Intangibles (formerly SFAS 142)
  • ASC 360 Accounting for the Impairment or Disposal of Long-Lived Assets (formerly SFAS 144)
  • ASC 718 Share-Based Payment
  • ASC 805 Business Combinations (formerly SFAS 141R)
  • ASC 820 Fair Value Measurements (formerly SFAS 157)
  • ASC 825 Fair Value Option for Financial Assets and Financial Liabilities
  • IRC 409A
  • Fresh Start Accounting


ASC 805 Business Combinations (formerly SFAS 141R) requires that the cost of a business combination be allocated to the tangible and intangible assets acquired and the liabilities assumed. The purchase price allocation process requires, among other things, that intangible assets which meet the recognition criteria of this standard be valued under the fair value standard.  Fair value is the price that would be received to sell an aset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

ASC 350 Goodwill and Other Intangibles (formerly SFAS 142) requires that the goodwill of a reporting unit be tested annually, and in certain circumstances, between annual tests.  The first step of the goodwill impairment test compares the fair value of the reporting unit with its carrying value.  The fair value of a reporting unit refers to the price that would be received to sell the unit as a whole in an orderly transaction between market participants at the measurement date.  If the carrying value of the reporting unit exceeds fair market value, the second step of the goodwill impairment test is required.  This test compares the fair value of the reporting unit goodwill with its carrying value.

ASC 360 Accounting for the Impairment of Disposal of Long-Lived Assets (formerly SFAS 144)  requires that certain intangible assets that are subject to amortization be tested for impairment.  An impairment loss shall be recognized if the carrying value of an intangible asset is not recoverable and exceeds its fair value.

ASC 718 Compensation-Stock Compensation (formerly SFAS 123R) requires the recognition of equity-based compensation as an expense at the grant date, based upon fair value.