Buy custom Toyota Motor Company Financial Analysis
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| Topic: |
Business
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| Number of pages / Number of words: |
12 / 3174 |
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The auditors believe that they obtained reasonable assurance that the financial statements are free of material misstatement and that their audits provided reasonable basis for the opinion. The financial statements remain the responsibility of the company's management.
Changes in company's accounting methods
In June 2001, the Financial Accounting Standards Board (FASB) issued FAS No...
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141, Business Combinations (FAS 141) and FAS No. 142, Goodwill and Other Intangible Assets (FAS142). FAS 141 requiring all business combinations to be accounted for using the purchase method of accounting and is effective for all business combinations initiated after June 30, 2001. FAS 142 requires goodwill and intangible assets having an indefinite useful life to be tested for impairment under certain circumstances, and written off when impaired, rather than being amortized as previous standards required...
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