search query: @indexterm analytical review / total: 857
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| Author: | Prosser, E. K. Smith, J. K. |
| Title: | Accounting for Trade Dress |
| Journal: | Journal of Accountancy
2002 : NOV, VOL. 194:5, p. 61-70 |
| Index terms: | ACCOUNTING TRADE ANALYTICAL REVIEW COMPANIES |
| Language: | eng |
| Abstract: | CPAs must follow FASB rules and stay current on both court decisions and changes in statutes to ensure balance sheets properly reflect the value of a company's trade dress for financial reporting purposes. Recent FASB rule changes have made it important for CPAs to understand the concept of "trade dress" and its impact on a company's financial statements. Trade dress refers to the unique packaging or appearance of a company's product, such as the red and white Campbell's soup can label. In all business combinations an acquiring company must separately value the acquired company's trade dress. CPAs also must perform an annual test, comparing the current fair value of a company's trade dress to its recorded amount and recognizing an impairment loss if it has gone below this amount. |
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