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Under Accounting Standards Codification (ASC)
805
(formerly SFAS No. 141
and 141R), companies are required to use purchase accounting for business combinations. When one company acquires another, the acquirer must allocate the purchase cost for financial reporting purposes. Typically, portions of the cost are assigned to plant, property and equipment; intangible assets; inventory; and goodwill - all on the basis of fair value.
VRC produces opinions of value both for fixed assets and for intangible assets. Accounting firms and the Securities and Exchange Commission have historically accepted and relied upon our values in their audits. We also provide estimates of assets' remaining lives for use in calculating depreciation and amortization.
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