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Discuss the differences between the ifrs and gaap

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Reference no: EM132752695

Problem 1: 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:

  1. Assignment/allocation of goodwill. (i.e. The levels at which goodwill is assigned /allocated)
  2. Impairment of goodwill and test(s) applied and its steps (i.e. Methods of determining impairment of goodwill)
  3. How impairment loss is recognized and allocated.(i.e. impairment loss[charge] calculation and allocation)

Reference no: EM132752695

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