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Explain the concept of goodwill in accounting, including its recognition, measurement, and subsequent accounting treatment under both the International Financial Reporting Standards ( IFRS )

Explain the concept of goodwill in accounting, including its recognition, measurement, and subsequent accounting treatment under both the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (GAAP) in the United States. Additionally, discuss the factors that influence the impairment of goodwill and the accounting treatment for impairment losses.

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