... Information and Learning Company 300 North Zeeb Road PO Box 1346 Ann Arbor, MI 48106-1346 Alshabani, Waleed Mohammad, An investigation of the effects of SFAS No. 121 on asset impairment reporting and stock ... the issuance of SFAS No 121 The research questions are as follows: What are the effects of SFAS No. 121 on management’s discretion over asset writedown reporting? Are the effects of SFAS No. 121 reflected ... for the Impairment of Long-Lived Assets and Long-Lived Assets to Be Disposed Of, managers had substantial discretion concerning the amount and timing of reporting writedowns of long-lived assets...