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.

Answer this question in a tabular format, like the following one:

	IFRS	GAAP
Assignment/allocation of Goodwill
Impairment of goodwill
Reversal of impairment
Amortization and impairment of intangible assets other than goodwill
Non-Controlling interest

(You must support your answer in this question with quality references.)

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 for does not exceed] the carrying value of goodwill), and reversal of impairment. Amortization and impairment of intangible assets other than goodwill - Non-Controlling interest. (25 marks) Answer this question in a tabular format, like the following one: IFRS GAAP Assignment/allocation of Goodwill Impairment of goodwill .....etc 4 (You must support your answer in this question with quality references.)