There are differences between the IFRS and GAAP (after FASB issued ASU 2017-04 to simplify the accounting for goodwill impairment) regarding the following: Assignment/allocation of goodwill. (i.e., The levels at which goodwill is assigned /allocated) Impairment of goodwill and test(s) applied and its steps (i.e., Methods of determining impairment of goodwill) How impairment loss is recognized and allocated. (i.e., impairment loss[charge] calculation and allocation) Amortization and impairment of intangible assets other than goodwill
There are differences between the IFRS and GAAP (after FASB issued ASU 2017-04 to simplify the accounting for goodwill impairment) regarding the following: Assignment/allocation of goodwill. (i.e., The levels at which goodwill is assigned /allocated) Impairment of goodwill and test(s) applied and its steps (i.e., Methods of determining impairment of goodwill) How impairment loss is recognized and allocated. (i.e., impairment loss[charge] calculation and allocation) Amortization and impairment of intangible assets other than goodwill
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter8: Investing Activities
Section: Chapter Questions
Problem 6QE
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There are differences between the IFRS and GAAP (after FASB issued ASU 2017-04 to simplify the accounting for
- Assignment/allocation of goodwill. (i.e., The levels at which goodwill is assigned /allocated)
- Impairment of goodwill and test(s) applied and its steps (i.e., Methods of determining impairment of goodwill)
- How impairment loss is recognized and allocated. (i.e., impairment loss[charge] calculation and allocation)
- Amortization and impairment of intangible assets other than goodwill
Discuss the accounting treatment of the preceding points under IFRS only. (Comparison is not required)
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