Wiley GAAP 2019

25ASC 350 INTANGIBLES—GOODWILL AND OTHER

PERSPECTIVE AND ISSUES

Subtopics

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

• ASC 350-10, Overall, which provides an overview of the other subtopics and the overall scope of the topic.
• ASC 350-20, Goodwill, which provides guidance on accounting for goodwill subsequent to acquisition and for the cost of internally developed goodwill. It also provides guidance on the accounting alternative for private companies
• 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 assets.
• ASC 350-40, Internal-Use Software, which provides guidance on accounting for software developed for internal use and determining whether that software is for internal use.
• ASC 350-50, Website Development Costs, which provides guidance on accounting for costs associated with the development of a website, including costs incurred:
  • In the planning, application development, infrastructure development, and operating stages
  • To develop graphics and content

Presentation and Disclosure

Presentation and disclosure requirements can be found at www.wiley.com/go/GAAP2019.

Issues

For many entities, especially high-technology, knowledge-based companies, the primary assets are intangible, such as patents and copyrights, and for professional service firms the key assets may be “soft” resources, such as knowledge ...