UPDATE -- FASB Issues Accounting Standards Update on Testing Goodwill for Impairment

        -- FASB issued an Accounting Standards Update (ASU 2011 - 08) in September 2011.

           This Update alllows an entity (public or non-public) the option to first test goodwill for

           impairment using qualitative measurements.  Under the Standard, an entity can first

           assess these qualitative factors to determine whether it is more likely than not (i.e.,

           having a likelihood of more than 50%) that the fair value of a reporting unit is less than

           its carrying amount, including goodwill.  If this qualitative test determines that

           the fair value is likely greater  than the carrying amount, no additional testing is

           necessary.  If this qualitative test determines that the fair value is likely less  than

           the carrying amount, the entity must commence the two-step quantitative goodwill

           impairment test.  Please contact Dan Branch or Michael Halliwell for more information

           or to discuss the potential impact on your organization.  The link opens the Standards

           Update page of the FASB website.

TCG's Branch Addresses Questions Regarding Obtaining a Valuation

        -- In a recent segment co-authored with Bruce Wynn of Morris, Manning & Martin, LLP,

           Mr. Branch addresses commonly asked questions from companies regarding

           obtaining a valuation.  Please contact Mr. Branch for more information related to these

           FAQs.

FASB's Tentative Decision Regarding Nonpublic Entities and Fair Value

        -- FASB tentatively decides not to allow exceptions for nonpublic entities to the fair value

           principles and concepts applicable to the measurement of fair value in the amendments to

           Topic 820, Fair Value Measurements and Disclosures.