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This chapter discusses the accounting for indefinite-lived intangible assets. It also addresses how to determine if an intangible asset is indefinite-lived and how to assess such assets for impairment.
The initial accounting for intangible assets acquired in a business combination or an asset acquisition is addressed in BCG 4 and PPE 2, respectively. The accounting for finite-lived intangible assets, including how to determine their useful lives and method of amortization, is included in PPE 4. How to assess, calculate, and record impairments on finite-lived intangible assets is included in PPE 5.
For guidance on the initial recognition and measurement of goodwill, refer to BCG 2.6. The accounting for goodwill post acquisition is addressed in BCG 9.
Refer to PPE 6 for guidance on the derecognition of nonfinancial assets (which includes intangible assets).
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