IMPAIRED GOODWILL Definition

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IMPAIRED GOODWILL is the recognition of the reduction in value of the intangible asset known as goodwill.

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DIRECT FINANCING LEASE is one in which the lessor's only source of revenue is interest. The lessor (generally a bank or other financial institution) buys an asset and leases it to the lessee. This transaction is an alternative to the more customary lending arrangement in which a borrower uses the loan proceeds to purchase an asset. A direct financing lease is the functional equivalent of a loan.

FASTBAC is First Automotive Short-Term Bonds and Certificates; asset-backed securities supported by automo­tive loan contracts.

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