企業併購與商譽減損

Abstract

本研究主要探討企業由商譽減損可以看出企業是否使用減損及時反應商譽的價值變動，主要原因為企業在決定是否發生商譽減損的時候需要衡量資產的公允價值與預期現值，若企業具有延遲認列的動機，則有可能利用商譽不可驗證的特性延遲認列減損的時間。 接著，以台灣宏碁股份有限公司以及美國微軟公司為個案為例，蒐集公開資訊與財務報導得知，此兩間公司皆進行了多次的併購，並在後續年度認列了重大的商譽減損，但在實際認列前皆已出現應認列減損之跡象。本論文以此兩個個案作為範例，代表企業可能延遲認列商譽減損的時間。

The objective of this research is to analyze whether corporates recognize goodwill impairments timely to reflect the value changes of goodwill. It is necessary that corporates judge fair value and expected present value of assets. If they have motivations of delaying recoegnizing, corporates may use the unidentifiable characteristic of goodwill to delay recognizing goodwill impairments. I provide two cases in the research: Acer Inc. and Microsoft. After collecting public information and financial reports, I know that they have few corporate acquisitions, but recognized material goodwill impairments subsequently. However, before the recognition of goodwill impairments, some indications show that goodwill impairments may occur. This research provides these two cases as examples to indicate that corporates may delay recognizing goodwill impairments.