Question: Briefly 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

Briefly 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

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