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required for business combinations and acquisitions by not-for-profit entities, as established in Sections 805-20-25 and 805-20-30.

Amendments to Topic 350

24.

Amend paragraphs 350-10-05-1

and

350-10-05-5,

with

a

link

to

transition

paragraph 350-10-65-1, as follows:

Intangibles—Goodwill and Other

350-10-05-1 The Intangibles—{Remove Glossary link} Goodwill {Remove Glossary link and Other Topic provides guidance on financial accounting and reporting related to goodwill and other intangibles, other than the accounting at acquisition for goodwill and other intangibles acquired in a business combination or an acquisition by a not-for-profit entity. [FAS 142, paragraph 1, sequence 70.1] Subtopics 805 20 and 805 30 addresses financial accounting and reporting for goodwill and other intangibles acquired in a business combination at acquisition.That acquisition guidance is provided in the following Subtopics:

a. Subtopic 805-20 provides acquisition guidance for intangible assets acquired in a business combination or an acquisition by a not-for-profit

b.

entity. Subtopic 805-30 provides guidance on recognition and measurement of goodwill acquired in a business combination.

initial

c.

Subtopic 958-805 provides guidance on recognition and initial measurement of goodwill acquired in an acquisition by a not-for-profit entity.

350-10-05-5 Subtopic 350-30 addresses financial accounting and reporting for intangible assets acquired individually or with a group of other assets.assets (but not those acquired in a business combination at acquisition. However, it does not discuss the recognition and initial measurement of intangible assets acquired in a business combination or in an acquisition by a not-for-profit entity. [FAS 142, paragraph 1, sequence 70.1] That acquisition guidance is provided in Subtopic 805-20. It Subtopic 350-30 also addresses financial accounting and reporting for intangible assets after acquisition, including those intangible assets acquired in a business combination or an acquisition by a not-for-profit entity.combination, after acquisition.

25. Amend paragraphs 350-20-05-1 through 05-2, with a link to transition paragraph 350-10-65-1, as follows:

350-20-05-1 This Subtopic addresses financial accounting and reporting for goodwill subsequent to its acquisition in a business combination and for the cost of internally developing goodwill.

350-20-05-2 Subtopic 805-30 provides guidance on recognition and initial measurement of addresses financial accounting and reporting for goodwill

73

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