After reading Module briefly summarize the differences among GAAP and IFRS on intangible assets including goodwill.
Find two companies'' financial statements where one follows GAAP and the other one U.S. GAAP Can you find any goodwill recorded? Any impairment loss?
You will have to look in the notes.
Do you see any intangible assets capitalized (specifically development costs capitalized under the IFRS)?
Even if they do not have any impairment loss, can you infer upon based on what you read in Module 7, what would be the differences in calculating impairment?
Hint: Try Nokia 2014 annual report for IFRS and Hewlett Packard 2014 annual report for GAAP.
Just report your findings (you will find info. under the notes).
The GAAP-IFRS differences did not change since 2014. You are welcome to use more up to date annual reports for HP and Nokia to answer the questions.
Attachment:- Module.rar