Question: What does goodwill represent? Under SFAS 142, we are required to test goodwill for impairment at least annually. How is this done? Is impairment of

What does goodwill represent? Under SFAS 142, we are required to test goodwill for impairment at least annually. How is this done? Is impairment of goodwill reversible under U.S. GAAP? How about under IFRS? (Refer to FASB Topic 350, "Intangibles-Goodwill and Other," and IAS36 "Impairment of Assets.")

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