Why are the impairment rules for goodwill different than for other assets? Explain

Q: how do you determine when goodwill will be written off under the impairment rules

A: Goodwill:Goodwill is the good reputation developed by a company over years. This is recorded as an…

Q: impairment testing for goodwill?

A: ABOUT GOODWILL  :- Goodwill is an Intengible Assets of the Business . Which shows the Reputation of…

Q: Explain the impairment of goodwill, in general

A: Corporate finance is referred as the decision of the firm to take capital investments and other…

Q: what is accounting for goodwill and what are its implications?

A: Goodwill is an intangible asset. It generally arises from the acquisition of a business. In other…

Q: Explain the alternative methods that have been suggested to account for goodwill or excess on…

A: Intangible Assets are the non current fixed assets which can not be seen or touch. But they provide…

Q: Under U.S. GAAP, the impairment tests for goodwill and PP&E are different. Describe the main…

A: Property, plant and equipment:   Property, plant and equipment are the tangible assets which are…

Q: WHAT IS TECHNICAL OBSOLECENSE OF ASSET

A: The term obsolete refers to the fact that a commodity is no longer in use. Obsolescence refers to…

Q: Describe the differences in assets that are unrestricted, temporarily restricted, or permanently…

A: Assets: Assets are those items that provide value for money and future economic benefit for an…

Q: Which of the following statements is true about goodwill? The intangible asset goodwill may be…

A: Goodwill is an intangible asset which appears in the asset side of entities balance sheet.

Q: Briefly explain the differences between U.S. GAAP and IFRS in the measurement of an impairment loss…

A: Under International Financial Reporting Standards (IFRS), the impairment loss is recognized, when an…

Q: at is the difference between depreciation and im

A: Depreciation: Depreciation is an accounting methodology of allocating the price of a tangible or…

Q: What Is Goodwill And How Is It Accounted For?

A: Definition:   Goodwill: Goodwill is a good reputation developed by a company over the years. This is…

Q: Which one of the following is not a method of valuation of goodwill? a. Super profit method b.…

A: Goodwill can be calculated by various methods suitable for various businesses considering various…

Q: Explain the differences between US GAAP and IFRS in the calculation of a goodwill impairment loss in…

A: Answer: Goodwill is the type of asset that are intangible in nature. It is tested for annual…

Q: Define goodwill impairments.

A: Goodwill impairment is an accounting charge that companies record when goodwill's carrying value on…

Q: Provide detailed rational of why goodwill must be adjusted for impairment

A: Goodwill impairment is a charge that companies record when goodwill's carrying value on financial…

Q: Define misappropriation of assets and give two examples of misappropriation of assets.

A: Asset: It represents the resources that are owned by the business.

Q: Differentiate between impairment process that applies to limited- and indefinite-life intangibles,…

A: The distinction between impairment measure that applies to restricted and uncertain life immaterial,…

Q: There are much argument about using cost instead of fair value to record acquired assets. In your…

A:

Q: What is the difference between tangible and intangible assets?

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 1. HOw much impairment loss is allocated to goodwill? 2. how much impairment loss will be credited…

A: Impairment Loss = Carrying Amount of CGU - Recoverable Amount of CGU

Q: An intangible asset: a. cannot be classified on the statement of financial position because it lacks…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: nder what circumstances is it appropriate to record goodwill in the accounts? How should goodwill,…

A: Goodwill is the amount of the reputation of the company, it is something that cannot be seen or…

Q: Describe the procedures for conducting a goodwill impairment test.

A: Goodwill: Goodwill is an intangible asset. It is defined as the excess of cost of an acquired…

Q: Explain the ‘qualifying asset’ and how do we treat exchange rate differences relating to the…

A: The question is related to Borrowed Cost. Borrowed cost are those cost that are directly…

Q: Which one of the following category goodwill lies? a. Intangible asset b. Fictitious asset c.…

A: Assets example Intangible assets Trade mark, copy right, goodwill etc Fictitious assets Prepaid…

Q: Which statement regarding goodwill is true?

A: Goodwill: Goodwill is the asset to the company which is shown in the asset side of the balance under…

Q: What amount of goodwill will be reported?

A: Consolidated balance sheet The financial position of a combination of two companies is represented…

Q: Which one of the following category goodwill lies? a. Fictitious asset b. Intangible asset c.…

A: Option a. Fictitious asset cannot be converted into cash but goodwill can be encashed. Option b.…

Q: What is the difference between tangible and intangible assets?

A: Fixed Assets: Fixed assets are those assets which gives profit over a year of time. Whether it is…

Q: What is the goodwill arising from the acquisition?

A: A business combination occurs when an entity acquires control over an organization. Asset purchases…

Q: why is there a need to re evaluate impairment of assets due to trigger events?

A: The impairment refers to the decrease in the value of assets of the company. This reduction is…

Q: Explain what is meant by the impairment of the value of property, plant, and equipment and…

A: Property, Plant, and Equipment:  Property, Plant, and Equipment refers to the fixed assets, having a…

Q: In your own words, briefly explain a 'qualifying asset' and how we report exchange rate differences…

A: The question is related to Borrowing Cost. As per Borrowing Cost there are two types of Assets 1.…

Q: Explain the process for determining the impairment of goodwill. Include the requirements of IAS 36…

A: The underlying premise of IAS 36 is that an asset should not be carried in the financial statements…

Q: True or False?

A: Meaning of Right of use asset The right of use asset is recorded by the lessee in the balance…

Q: Just briefly describe how impairment losses for goodwill are calculated under U.S. GAAP and IFRS,…

A: The answer

Q: Materiality means that only items having a physical existence may be recognised as assets

A: Various Accounting concepts are: Accrual concept Going concern concept Matching concept Materiality…

Q: Which of the following properly describes the accounting for goodwill? Multiple Choice Goodwill is…

A: Goodwill is referred to as an intangible asset that helps in earning super-profits for the company.

Q: What is intangible assets, and what is goodwill? definition?

A: Assets are the resources that are owned by the entity for using them in future and to generate…

Q: During the measurement period, which of the following may affect the amount of goodwill from…

A: IFRS 3 throws light on business combinations and how contingent consideration is treated in the…

Q: Describe the rationale and procedures for impairment testing for intangible assets other than…

A: Intangible assets:   These are the long-term assets which are not physical in nature, but possess…