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Find and explain the differences between the ifrs and gaap

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Question 1: Briefly explain 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, test(s) applied, how impairment loss is recognized and allocated (In case the impairment loss exceeds [or does not exceed] the carrying value of goodwill), and reversal of impairment.
  3. Amortization and impairment of intangible assets other than goodwill Non-Controlling interest.

Reference no: EM132543981

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