Describe the procedures prescribed by us gaap and ifrs

Assignment Help Finance Basics

Reference no: EM13902191

TESTING FOR GOODWILL IMPAIRMENT. Goodwill is an intangible asset that firms report on their balance sheets as a result of acquiring other firms. Goodwill generally has an indefinite life and should not be amortized, but should be tested for impairment at least annually. Describe the procedures prescribed by U.S. GAAP and IFRS to test for goodwill impairment. How do these procedures differ from the procedure followed for testing the impairment of a patent, which is an intangible asset with a definite life?

Reference no: EM13902191

Questions Cloud

Discuss the factors that estimated in measuring depreciation : Discuss the three factors that must be estimated in measuring depreciation. Provide an illustration as to how each of these factors can be employed to manage earnings.

Geological cross section showing relations : If gabbro cuts across both sandstone and schist and schist is the oldest, draw a geological cross section showing relations between the rocks.

Calculating the weighted average of the cost of equity : We find the cost of capital by calculating the weighted average of the cost of equity, debt, and preferred stock. Different sources of funds have different costs. Debt is almost always cheaper than equity, but using debt increases risk in terms of d..

Business process of the selected project : Select one (1) project from your working or educational environment that you would use the hypothesis test technique. Next, propose the hypothesis structure (e.g., the null hypothesis, data collection process, confidence interval, test statistics,..

Describe the procedures prescribed by us gaap and ifrs : Describe the procedures prescribed by U.S. GAAP and IFRS to test for goodwill impairment. How do these procedures differ from the procedure followed for testing the impairment of a patent?

The purchase of the land : On July 23 of the current year, Dakota Mining Co. pays $4,715,000 for land estimated to contain 5,125,000 tons of recoverable ore.

Causes and effects of sand deposition : What are some nautural causes and effects of sand deposition? What are some geological features that can develop from sand deposition over time?

How would you explain your conclusion to sara : How many friend samples Sara should have in order to draw the conclusion with 95% confidence interval? Why?How would you explain your conclusion to Sara without using any statistical jargon? Why

The interest rate expressed : The interest rate expressed as if it were compounded once per year

User Account

All Pages