Change in Goodwill Reporting units

Goodwill Impairment Change  October 6, 2011 – 02:10 pm
WMGI 6.30.2012 10Q

FASB recently issued Accounting Standards Update No. 2011-08, Testing Goodwill for Impairment, which amends the guidance in ASC 350-20. Under the revised guidance, entities testing goodwill for impairment have the option of performing a qualitative assessment before calculating the fair value of the reporting unit (i.e., step 1 of the goodwill impairment test). If entities determine that the fair value of the reporting unit is more likely than not less than the carrying amount (based of qualitative factors), the two-step impairment test would be required.

The amendment is providing a number of our client’s relief from having to complete a quantitative test.

 ASU 2011-08

Source: Caliber Advisors

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Auto brokers, leasing companies and car buying services sell and lease cars to people, securing the vehicles at a commercial discount, then add $1500, $2500 or more profit before selling the car to the consumer. I have 25 years and 20,000+ customers who like being able to pay the same exact price brokers, leasing companies and buying services pay for their vehicle, without any additional mark-up...sumer oriented articles and feedback from more customers than most people have time to read. I get paid $600 or $700 a pop to give consumers more advantages than they can normally attain haggling and hassling and running around town, no less butting heads with sales people and sales managers trained to handle any strategy the normal seasoned/most experienced car shopper might bring to the table.

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Thought the direct marketing approach would be a natural extension for growth with our business. We manufacture plus size lingerie. Building our direct sales division has proven to be the most difficult step since we founded our business 6 years ago!..lol We set up a seperate name & organization for the direct sales & studied every company that we respected. Longaberger Baskets, Mark Kay, Pamper...erials & packaging is important. You want to build your brand. Finally...I'd say constant communuication with customers & distributors is also vital.
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Brainstorming

I worked for a bag manufacturer for years,
our customers ranged from distributors/wholesalers stores, to individuals who would resell the bags,
you have lots of options,
if your buying wholesale, you can try reselling the bags at retail or close to retail price, can try ebay and such,
most mark ups are +100%
so if you pay $30 at wholesale, thats generally a $60 bag ...acturers pay 10%-20% commission,
and most store buy hundreds of dollars worth to +$1000 worth at a time,
i prefer that route because you dont have to actually purchase anything to sell it, you just take and place the order,
a good place to start is a trade show,
you will get a good idea of who's got what and some places will have posting of manufacturers looking for reps,

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