Other-than-temporary impairment (OTTI)
Introduction O.T.T. Incorporated, principally engaged in the manufacture and sale of clothing, has six investments remaining in the department’s portfolio as of December 31. According to ASC, this memo analyzes whether any of its investments are other-than-temporary impaired, and determines the amount of the impairment. Facts Investment 1 — Happy New Year & Co. OTT purchased 11 shares of Happy New Year & Co. stock […]