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How to amortize an indefinite life intangible asset?

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Answer:

Under US GAAP as well as IFRS, intangible assets with an indefinite life (for example brand names) are not amortized, but instead, an annual impairment test is performed.

First answer by Joost Impink. Last edit by Joost Impink. Contributor trust: 8 [recommend contributor ]. Question popularity: 37 [recommend question].

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