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Does GAAP require amortization of goodwill against net income? If not, when does goodwill decrease? A. Maybe, under IFRS goodwill is written off or reduced

Does GAAP require amortization of goodwill against net income? If not, when does goodwill decrease?

A.Maybe, under IFRS goodwill is written off or reduced to a lesser value only when its value is impaired. Under US GAAP, goodwill is amortized.

B.Yes, goodwill is always amortized against net income over the estimated useful life of the goodwill.

C.No, under both the U.S. GAAP and IFRS goodwill is written off or reduced to a lesser value only when its value is impaired.

D.Maybe, if goodwill is purchased, it should be amortized over the estimated useful life of the goodwill, if goodwill is created then it should not be amortized.

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