Question

In: Accounting

explain the differences between the IFRS and GAAP after FASB issued ASU 2017-04 to simplify the...

explain the differences between the IFRS and GAAP after FASB issued ASU 2017-04 to simplify the accounting for goodwill impairment) regarding the following:

  • Assignment/allocation of goodwill. (i.e. The levels at which goodwill is assigned /allocated.
  • Impairment of goodwill, test(s) applied, how impairment loss is recognized and allocated (In case the impairment loss exceeds [or does not exceed] the carrying value of goodwill), and reversal of impairment.

  • Amortization and impairment of intangible assets other than goodwill

Non-Controlling interest

Solutions

Expert Solution


Related Solutions

Explain how ASU 2016-1 affect congruence between GAAP and IFRS
Explain how ASU 2016-1 affect congruence between GAAP and IFRS
Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues:...
Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues: • Treatment of Inventory and Valuation methods • Treatment of Inventory write-down and Asset Impairment and revaluation • Treatment and determination of costs of Property, Plant, and Equipment • Treatment of Investment Properties • Treatment of Research and development costs • Treatment of Intangible Assets • Treatment of Assets’ Impairment Loss • Treatment of costs of borrowing to purchase or construct assets • Treatment...
Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues:...
Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues: Treatment of Contingent Assets and Liabilities Treatment of Asset Recognition Treatment of Revenue Recognition Treatment of Options Treatment of Onerous Contracts Treatment of Restructuring Provision Treatment of Measurement of Deferred Taxes Treatment of Service Contracts Treatment of Financial Assets
Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues:...
Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues: Treatment of Contingent Assets and Liabilities Treatment of Asset Recognition Treatment of Revenue Recognition Treatment of Options Treatment of Onerous Contracts Treatment of Restructuring Provision Treatment of Measurement of Deferred Taxes Treatment of Service Contracts Treatment of Financial Assets
Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues:...
Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues: Treatment of Contingent Assets and Liabilities Treatment of Asset Recognition Treatment of Revenue Recognition Treatment of Options Treatment of Onerous Contracts Treatment of Restructuring Provision Treatment of Measurement of Deferred Taxes Treatment of Service Contracts Treatment of Financial Assets International Accounting (Loose-Leaf) 5e (Doupnik/Perera) McGraw-Hill (2019) 9781260466539.
the differences between IFRS and GAAP in "Balance Sheet and Statement of Cash Flows "
the differences between IFRS and GAAP in "Balance Sheet and Statement of Cash Flows "
Compare and contrast the differences in accounting for investments between U.S. GAAP and IFRS.
Compare and contrast the differences in accounting for investments between U.S. GAAP and IFRS.
Briefly describe some of the similarities and differences between GAAP and IFRS with respect to the...
Briefly describe some of the similarities and differences between GAAP and IFRS with respect to the accounting for inventories.
There are several differences between IFRS and GAAP in regards to revenue recognition. First, there are...
There are several differences between IFRS and GAAP in regards to revenue recognition. First, there are differences in the conditions that must exist to recognize revenue from the sale of goods. For example, under IFRS, one of the conditions is that “The entity has transferred to the buyer the significant risks and rewards of the goods.” Where as one of the GAAP conditions is simply that “Delivery has occurred.” Second, there are differences in recognizing revenue from construction contracts. For...
List FIVE of the differences between IFRS and GAAP? What are the financial implications to U.S....
List FIVE of the differences between IFRS and GAAP? What are the financial implications to U.S. companies if IFRS is adopted?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT