Firm life cycle and the disclosure of estimates and judgments in goodwill impairment tests: Evidence from Australia |
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| Institution: | 1. Department of Accounting and Corporate Governance, Macquarie Business School, Macquarie University Sydney, Australia;2. Faculty of Finance, City University of Macau, Avenida Padre Tomas Pereira, Macao;3. School of Accounting, Curtin Business School, Curtin University, GPO Box U1987, Perth, Western Australia 6845, Australia;1. Martin J. Whitman School of Management, Syracuse University, 721 University Avenue, Syracuse, NY 13244-2450, United States;2. W.P. Carey School of Business, Arizona State University, BA267C, Tempe, AZ 85287-3606, United States;3. Trulaske College of Business, University of Missouri-Columbia, 303 Cornell Hall, Columbia, MO 65211, United States;4. Accounting and Finance, College of Management, University of Massachusetts-Boston, Boston, MA 02125, United States;1. School of Business Administration, Dongbei University of Finance and Economics, Dalian, China;2. W. P. Carey School of Business, Arizona State University, USA |
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| Abstract: | The goodwill impairment disclosure literature examines the association between firm-and country-level factors and the disclosure of estimates and judgments used in the goodwill impairment test under International Accounting Standard 36. Although the accounting literature provides competing predictions about the relation between firm life cycle and these disclosures, prior studies did not explore the role of firm life cycle in these disclosures. This paper fills in this gap in the literature, and documents that, in Australia, these disclosures vary by life cycle stages and that firm size moderates this association. We, however, find that the differences are more pronounced for some disclosure items than for others. |
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| Keywords: | Goodwill impairment Firm life cycle Accounting estimates and judgments Note disclosures Disclosure regulation Australia G34 M41 |
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