Accounting for Goodwill

Paper Summary:

This paper discusses the proper accounting treatment for goodwill under GAAP, and specifically under the Financial Accounting Standards Board's FASB 142. The author addresses the views of the FASB as well as the SEC and the AICPA about this new method of accounting for intangible assets. The paper states that goodwill and other intangible assets may no longer be amortized over a specified hypothetical useful life or using straight line amortization.

From the Paper:

"The Financial Accounting Standards Board FASB statement on goodwill and other intangible assets addresses how intangible assets that are acquired individually or with a group of other assets should be accounted for in the acquiring company's financial statements subsequent to their initial recognition. Under FAS, goodwill and certain intangible assets will no longer be amortized over a specified hypothetical useful life. In addition, goodwill and other intangible assets will no longer be amortized using straight line amortization meaning the amount of amortization will probably not be ..."

More papers on Accounting for Goodwill :

• Persuasive Essay # 102359 : "Accounting for Intangible Assets: IAS 38"
• Analytical Essay # 8220 : "SEC Concept Release on International Accounting Standards"
• Term Paper # 144330 : "Accounting Notes"

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