You’ve been awesome at explaining and providing key take-aways.
Could you please explicitely list and describe all the take-aways I must know about goodwill and impairment?
Like when are they recognized, what are the main differences between ifrs vs gaap. how they act during equity method
Thanks in advance!
for IFRS, goodwill is incurred when BV is bigger than the recoverable amount.
for USGAAP, good will would be incurred when BV is bigger than FV, but the amount incurred would be BV of goodwill minus implied goodwill.
by incurred i think you mean impaired?
Goodwill is incurred anytime the amount you’re paying for the asset exceeds the fair value of the asset