For mergers occurring after 2001, goodwill must be amortized and written off over 40 years or less.

Name: For mergers occurring after 2001, goodwill must be amortized and written off over 40 years or less.
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Question

Quizplus · Accepted Answer

Goodwill is no longer amortized over a set period for mergers occurring after 2001. Instead, it is subject to annual impairment tests to determine if the value of the goodwill has decreased and needs to be written down.

For Mergers Occurring After 2001, Goodwill Must Be Amortized and Written