In late December 2014, the Financial Accounting Standards Board (FASB) issued an accounting standards update, ASU No. 2014-18: Accounting for Identifiable Intangible Assets in a Business Combination. Under current accounting standards, the acquirer of a company is required to recognize most assets acquired and liabilities assumed in a business combination at their acquisition-date fair values, including all intangible assets that are identifiable. Companies may now elect an accounting alternative for recognition of certain intangible assets acquired.
If an intangible asset is identifiable, an acquirer does not have to recognize the following intangible assets separately from goodwill: 1) customer-related intangible assets unless they are capable of being sold or licensed independently from other assets or 2) non-competition agreements.
Wednesday, April 24, 2019 | 7:30 AM – 9:30 AM EDT | The Hartford Club