Chapter 14

Goodwill and Other Intangible Assets

James Mraz, CPA, MBA

University of Maryland, University College

14.1 Characterization of Intangible Assets

14.2 Accounting and Financial Management Overview

(a) Intangible Assets Including Goodwill Acquired in a Business Combination

(b) Intangible Assets Acquired Separately or With Other Assets

(c) Internally Developed Intangible Assets

(d) Intangible Assets Recognized on Acquisition of a Noncontrolling Interest in a Subsidiary

(e) Goodwill Recognized When Applying the Equity Method

(f) Specific Guidance on Certain Intangibles

(g) Intangible Assets in Specialized Industries

(h) New Emphasis on Management of Intangible Assets

(i) Sarbanes-Oxley Act of 2002—Implications for the Financial Reporting of Intangible Assets

(ii) Improved Internal Controls Over Intangible Assets Under Sarbanes

(iii) Practical Approaches to Internal Control Structures for Intangible Assets

14.3 Initial Recognition and Measurement of Intangible Assets

(a) Acquired Intangible Assets

(i) Cost Allocation and Other Valuation Issues

(ii) SEC/PCAOB Valuation Issues for Intangible Assets—More Changes, Greater Confusion on the Horizon

(iii) Valuation Approaches Supported by Court Opinions

(iv) Valuation Approaches Used by Tech-Transfer Practitioners

(v) Valuation Approaches Seen in Wall Street Transactions

(vi) Identifiable Intangibles Distinguishable from Goodwill

(b) Internally Developed Intangible Assets

14.4 Accounting for Intangible Assets

(a) Determining the Useful ...

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