1) A company acquired a group of assets that does not constitute a business. The company determined that part of the amount paid is related to the assembled workforce (very high quality trained employees) with a fair value of $100,000. The company does not know how to account for the component of assembled workforce and whether the amount of $100,000 should be recognized as a separate intangible asset, as part of other intangible asset, or expensed immediately. Research and cite a specific paragraph in the Accounting Standard Codification that can help the company to determine how this assembled workforce should be recognized. Unless specifically requested, your response should not cite implementation guidance and illustrations.
1) A company acquired a group of assets that does not constitute a business. The company determined that part of the amount paid is related to the assembled workforce (very high quality trained employees) with a fair value of $100,000. The company does not know how to account for the component of assembled workforce and whether the amount of $100,000 should be recognized as a separate intangible asset, as part of other intangible asset, or expensed immediately.
Research and cite a specific paragraph in the Accounting Standard Codification that can help the company to determine how this assembled workforce should be recognized. Unless specifically requested, your response should not cite implementation guidance and illustrations.
FASB ASC
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