Crucial 2011 Annual Report Download - page 199
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48
INOTERA MEMORIES, INC.
NOTES TO FINANCIAL STATEMENTS
Consequently, under US GAAP, loans totaling NT$ 37,852,012 and NT$ 19,876,257 at December 31, 2010 and 2009,
respectively would be classified as current liabilities whereas under ROC GAAP they are classified as long-term liabilities.
Under ROC GAAP, uncertain tax positions are recognized based on the more likely than not criterion although for deferred
tax assets, a valuation allowance is provided if it is more likely than not that all or some portion of the asset will not be
realized.
Under US GAAP, an entity recognizes in the financial statements the impact of a tax position, if that position is more likely
than not of being sustained upon examination, based on the technical merits of the position. The Company’
s accounting
policy is to accrue interest and penalties related to unrecognized tax benefits, if and when required, as a component of
general and administrative expenses in the consolidated statements of income.
Under ROC GAAP, the loss on impairment of long-lived assets is classified as non-operating expenses and losses.
Under US GAAP, the loss on impairment of long-lived assets is classified as operating expense.
Under ROC GAAP, an impairment loss is recognized if an asset’s (CGU’
s) carrying amount exceeds its recoverable
amount. The recoverable amount is the greater of fair value less costs to sell and value in use, which is based on the net
present value of future cash flows.
Under US GAAP, an impairment loss is recognized if the asset’s (asset group’
s) carrying amount exceeds the undiscounted
cash flows of the asset (asset group). The impairment loss is calculated based on excess of the carrying amount over the fair
value of the asset (asset group), which is based on the net present value of future cash flows.
(Continued)
(ii)
For long-
term obligations containing a grace period within which the debtor may cure the violation, it is probable that
the violation will be cured within that period, thus preventing the obligation from becoming callable.
(j)
Uncertain tax positions
(k)
Loss on impairment of long-lived assets to be held and use
(l)
Determination of impairment loss on long-lived assets to be held and use