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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

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