goodwill (quick question)

CFA Level II
#1

Hi, Is goodwill capitalized and (or) amortized under IAS? I remember one question in book 6 says it’s not amortized under both US GAAP and IAS but on my notes I wrote “capitalized/amortized under IAS”. Please help me to clarify it. Thx

#2

not capitalized /amortized under either IAS or US GAAP

#3

subject to annual impairment test may be amortized under OTHER international standards

#4

Goodwill created by the company is not capitalised. Goodwill gained from acquistion is either capitalised and amortized over 20yrs (IAS) Goodwill gained from acquistion is capitalised but not amortized. The goodwill will be subject to impairment test.

#5

I believe that I saw "Goodwill gained from acquistion is either capitalised and amortized over 20yrs (IAS) " this statement somewhere. Isn’t it a contradiction to “not capitalized /amortized under either IAS or US GAAP”? I’m still confused >

#6

I think it means you either chose to (a) capitlaise and and amortize over 20yrs or (b) you expense.