Answer:
is initially measured as the difference between the consideration given in an acquisition and the fair value of the separately identifiable net assets acquired on the acquisition date.
Explanation:
Goodwill is a non current intangible asset. It is is initially measured as the difference between the consideration given in an acquisition and the fair value of the separately identifiable net assets acquired on the acquisition date.
Goodwill isn't depreciated but checked annually for impairment. If goodwill is impaired, the full impairment amount should be written off as a loss. An impairment loss is recognized on the income statement.
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