Asc 350 20

35-4. ASC 350-20 notes the following: This Subtopic addresses financial accounting and reporting for goodwill subsequent to its acquisition and for the cost of internally developing goodwill. Reporting unit. Impairment Loss --> two step approach --> step 1: impairment test for a reporting unit step 2: impairment test for goodwill. Accounting Terms of Codification Topic 350-40. Defensive intangible asset. Instead, goodwill shall be tested at least annually for impairment at a level of reporting referred to as a reporting unit. Operating segment. 2. Nov 29, 2016 As outlined in ASC 350-20-35-3A through 35-3G, an entity is permitted to make a qualitative assessment of whether it is more likely than not that a reporting unit's fair value is less than its carrying amount before applying the two-step goodwill impairment test. Residual value. 350-20-35-1 Goodwill shall not be amortized. asc 350 20350-20 Goodwill. Standards Codification (ASC) 350. While goodwill is an intangible asset, the term intangible asset is used in this Subtopic to refer to an Sep 8, 2011 with the carrying amount of the reporting unit, as described in paragraph 350-20-. Goodwill and Other. Accounting Terms of Codification Topic 350-30. Preliminary project stage. Subsequent Measurement. Step 1 --> is (a) < (b)? (a) fair value of a reporting unitMay 12, 2016 Intangibles—Goodwill and Other—Goodwill. If the carrying amount of a reporting unit exceeds its fair value, then the entity is required to perform the second step of the goodwill impairment test to measure the amount of the impairment loss, if any, as described in Accounting Terms of Codification Topic 350-20. > Overall Accounting for Goodwill. This optional test is referred to as Step “0” as it is Identification of a Long-Lived Asset With a Fair Value Less Than Its Carrying Amount — 350-20-35 (Q&A 15) · Identification of Reporting Units — 350-20-35 (Q&A 16) · Comparison of Conclusions Reached Under ASC 280 and ASC 350 in Identifying Operating Segments and Reporting Units, Respectively — 350-20-35 Feb 1, 2017 Under the current guidance in ASC 350,3 impairment of goodwill “is the condition that exists when the carrying amount of goodwill exceeds The optional assessment described in ASC 350-20-35-3A through 35-3G to determine whether it is more likely than not that the carrying amount of a reporting unit . Goodwill --> not amortized [asc 350-20-35-1] --> tested for impairment at the level of a reporting unit. Codification Topic 350-20. asc 350 20 . (Paragraphs 350-20-35-33 through Jan 27, 2017 The Financial Accounting Standards Board (FASB or Board) issued final guidance1 that simplifies the accounting for goodwill impairment for all entities by requiring impairment charges to be based on the first step in today's two-step impairment test under Accounting. Business Noncontrolling interest. Useful life. Intangible asset class