Goodwill has to be evaluated for impairment once a year, as well as on an interim basis as the time events and circumstances warrant.

Question

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According to the accounting standards, goodwill has to be evaluated for impairment at least once a year, and also on an interim basis if there are any events or changes in circumstances that could indicate impairment. This is in accordance with International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).

Goodwill Has to Be Evaluated for Impairment Once a Year