Question
Explain in details, the differences between the IFRS and GAAP (after FASB issued ASU 2017-04 to simplify the accounting for goodwill impairment) regarding the following:
Explain in details, the 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
Answer this question in a tabular format, like the following one:
| IFRS | GAAP |
Assignment/allocation of goodwill |
|
|
Impairment of goodwill |
|
|
How impairment loss is recognized and allocated |
|
|
Amortization and impairment of intangible assets other than goodwill |
|
|
(You must support your answer in this question with quality and up-to-date references.)
NOTE: I NEED ANSWER IN THE ABOVE TABULAR FORM. PLEASE DO NOT COPY PASTE FROM OTHERS OR INTERNET.
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