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The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s. It established the Resolution Trust Corporation to close hundreds of insolvent thrifts and provided funds to pay out insurance to their depositors.
(Private companies in the United States may elect to amortize goodwill over a period of ten years or less under an accounting alternative from the Private Company Council of the FASB.) Instead, management is responsible for valuing goodwill every year and to determine if an impairment is required. If the fair market value goes below historical ...
Historical institutionalism (HI) is a new institutionalist social science approach [1] that emphasizes how timing, sequences and path dependence affect institutions, and shape social, political, economic behavior and change.
Cottage Savings Ass'n v. Commissioner, a United States Supreme Court case dealing with the tax consequences of the S&L crisis; United States v. Winstar Corp., a U.S. Supreme Court case that gives a concise but useful history of the crisis and the accounting practices that aggravated that crisis
The market for financial services evolved dramatically in the post-Civil War era. One of the most significant changes was the emergence of "active investment banking" in which investment bankers influenced the management of client companies through sitting on the finance committees and even directly on the board of directors of those companies.
Institutional investors pool money for individual investors or organizations. Because they pool money, institutional investors have much more money to invest than all but the wealthiest individual ...
Goodwill letters are most effective when the late payment was an isolated incident caused by unforeseen circumstances, such as a financial hardship or medical emergency.
A Tax Receivable Agreement (TRA) is a legal contract where a company agrees to share the economic benefits from certain tax savings with another party.These tax savings may relate to deductions for depreciation, goodwill amortization, and net operating losses.