Chapter 10: Indefinite-Lived Intangible Assets and Goodwill

In this section

• Recognition of Goodwill and Other Intangibles
  Discover detailed guidance on recognizing goodwill and intangible assets under US GAAP (ASC 350, 805), including key distinctions between internally generated and acquired intangibles.
• Goodwill Impairment Testing and Disclosures
  [Learn about goodwill impairment testing under the latest guidance, including a two-step illustrative example, required GAAP disclosures, and best practices for CPA candidates and accounting professionals.]
• Indefinite- vs. Finite-Lived Intangibles
  Discover the core distinctions between indefinite- and finite-lived intangible assets under U.S. GAAP and IFRS, focusing on recognition, subsequent measurement, impairment, and real-world best practices.
• Best Practices in Disclosures
  Discover essential strategies for disclosing intangible assets and goodwill, avoid restatements, and uphold transparency in financial reporting.