Wiley GAAP 2014: Interpretation and Application of Generally Accepted Accounting Principles

24   ASC 350 INTANGIBLES—GOODWILL AND OTHER

Perspective and Issues

Subtopics

Scope Exceptions

Issues

Technical Alerts

Definitions of Terms

Concepts, Rules, and Examples

Goodwill (ASC 350-20)

Amortization and impairment testing

Determining the fair value of a reporting unit

Measuring Fair Value

Recognition of impairment loss

Example of the goodwill impairment test

Other goodwill considerations

Presentation

General Intangibles Other Than Goodwill (ASC 350-30)

Determining the useful of life of intangible assets

Amortization of intangible assets

Indefinite-Lived Intangible Assets

Quantitative impairment test for indefinite-lived intangible asset

Recognition of impairment loss for indefinite-lived intangible asset

Presentation

Software Developed for Internal Use (ASC 350-40)

Costs subject to capitalization

Impairment

Amortization

Internal-use software subsequently marketed

Example of software developed for internal use

Website Development Costs (ASC350-50)

PERSPECTIVE AND ISSUES

Subtopics

ASC 350, Intangibles—Goodwill and Other, consists of five subtopics:

• ASC 350-10, Overall, which provides guidance for accounting and reporting on intangible assets
• ASC 350-20, Goodwill, which provides guidance on accounting for goodwill subsequent to acquisition and for the cost of internally developed goodwill
• ASC 350-30, General Intangibles Other Than Goodwill, which provides guidance on accounting and reporting for intangible assets other than goodwill acquired individually or with a group of other ...