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The FASB has been able to guard against management manipulation of earnings as a result of asset impairments by: prohibiting restoration of previously recognized impairment
The FASB has been able to guard against management manipulation of earnings as a result of asset impairments by:
prohibiting restoration of previously recognized impairment
requiring restoration of previously recognized impairment losses
relying on State Boards of Public Accountancy to police the transactions
fining any manager found guilty of such manipulation
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
