Section 3
Intangible Asset Impairment
Book
Version 3
By Boundless
By Boundless
Boundless Accounting
Accounting
by Boundless
3 concepts
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Limited-Life Impairment
Limited-life intangibles are amortized throughout the useful life of the intangible asset using either the units of activity or the straight-line method.
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Indefinite-Life Impairment
Because Indefinite-life tangibles continue to generate cash they can't be amortized; they must be evaluated for impairment yearly.
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Goodwill Impairment
Goodwill is an intangible asset that is tested yearly for impairment; it is not amortized.