Quest Diagnostics 2010 Annual Report Download - page 65

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Impact of New Accounting Standards
In October 2009, the Financial Accounting Standards Board (“FASB”) issued an amendment to the
accounting standards related to the accounting for revenue in arrangements with multiple deliverables, and an
amendment to the accounting standards related to certain revenue arrangements that include software elements. In
January 2010, the FASB issued an amendment to the accounting standards related to the disclosures about an
entity’s use of fair value measurements. In August 2010, the FASB issued an amendment to the accounting
standards related to the accounting for insurance recoveries, and an amendment to the accounting standards
related to the financial statement disclosure of the amount of charity care provided by a healthcare entity. In
December 2010, the FASB issued amendments to the accounting standards related to the testing of goodwill for
impairment and the disclosure requirements for business combinations. The impact of these accounting standards
is discussed in Note 2 to the Consolidated Financial Statements.
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