U.S. GAAP Codification of Accounting Standards

U.S. GAAP Codification of Accounting Standards
Codification Topic 350-30: Intangibles Other than Goodwill

Intangible Assets
   --> Type 1: Intangible assets with "finite" useful life
   --> Type 2: Intangible assets with "indefinite" useful life

   Intangible assets with "finite" useful life
   --> amortized over useful life

   Intangible assets with "indefinite" useful life
   --> not amortized

Impairment Loss
   All intangible assets
   --> tested for impairment
   --> impaired if (a) < (b)
        (a) carrying amount
        (b) fair value
   --> impairment loss = (b) - (a)

   "Reversal" of impairment loss is not allowed.
   [asc 350-30-35-14, 350-30-35-20]

International Financial Reporting Standards (IFRS) 

   IAS 38: Intangible assets