WGU D252 Task 2 |Passed on First Attempt
|Latest Update with Complete Solution
Jada Brooks
August 2, 2025
D252- Task 2
A. Research Summary of ASC 350 Standards
Topic: ASC 350 – Intangibles – Goodwill and Other Subtopics: 350-20
(Goodwill), 350-30 (General Intangibles) Sections/Subsections: 35
(Subsequent
Measurement), 20-35-28 to 20-35-30 (Impairment Testing), 20-35-63 to
20-35-86 (Private Company Alternatives).
1. Goodwill Impairment Treatment for Similar Economic
Characteristics
a. When components of an operating segment share
similar
economic characteristics, they may be aggregated into
a single reporting unit. ASC 350-20-35-33 through 35-46
provides guidance on identifying reporting units and
determining if aggregation is appropriate.
2. Goodwill Impairment Treatment for Dissimilar
Economic Characteristics
a. If components do not share similar economic
characteristics, they must be treated as separate
reporting units. Each unit is tested
individually for goodwill impairment using its own fair
value and carrying amount.
3. Goodwill Impairment Treatment for Public Companies
a. Public companies must test goodwill annually and
when a triggering event occurs. The impairment test
|Latest Update with Complete Solution
Jada Brooks
August 2, 2025
D252- Task 2
A. Research Summary of ASC 350 Standards
Topic: ASC 350 – Intangibles – Goodwill and Other Subtopics: 350-20
(Goodwill), 350-30 (General Intangibles) Sections/Subsections: 35
(Subsequent
Measurement), 20-35-28 to 20-35-30 (Impairment Testing), 20-35-63 to
20-35-86 (Private Company Alternatives).
1. Goodwill Impairment Treatment for Similar Economic
Characteristics
a. When components of an operating segment share
similar
economic characteristics, they may be aggregated into
a single reporting unit. ASC 350-20-35-33 through 35-46
provides guidance on identifying reporting units and
determining if aggregation is appropriate.
2. Goodwill Impairment Treatment for Dissimilar
Economic Characteristics
a. If components do not share similar economic
characteristics, they must be treated as separate
reporting units. Each unit is tested
individually for goodwill impairment using its own fair
value and carrying amount.
3. Goodwill Impairment Treatment for Public Companies
a. Public companies must test goodwill annually and
when a triggering event occurs. The impairment test
