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Auditing Intangible Assets and Evaluating Fair Market Value: The Case of Reacquired Franchise Rights

Year: 2009

Type: article

Abstract: ABSTRACT: The Roman Holiday Pizza Paradise case provides a setting that requires students to understand and perform procedures related to the audit of a fair value estimate in connection with the impairment of an unusual intangible asset, reacquired franchise rights, in the pizza restaurant industry. The case focuses on one key aspect—auditing fair market values—a concept that is increasing in importance as financial accounting standards evolve toward a fair value basis and one that requires the development of auditor judgment. Planning activities as well as performance of year-end auditing procedures are included in this self-contained module that incorporates client interaction and obtained external evidence.

Source: Issues in Accounting Education

DOI: 10.2308/iace.2009.24.1.45

Authors: Mark J. Kohlbeck, Jeffrey R. Cohen, Lori L. Holder-Webb

Institutions: Florida Atlantic University, Boston College, Simmons University, Western New England University

Language: English

Topic: Accounting Education and Careers

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2113808686

FWCI: 4.687

Cites: 1

Cited by: 24

Related to: 10