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activities (regardless of whether they have an alternative future use) shall be considered indefinite lived until the completion or abandonment of the associated research and development efforts. During the period those assets are considered indefinite lived they shall not be amortized but shall be tested for impairment in accordance with the following paragraph. Once the research and development efforts are completed or abandoned, the entity shall determine the useful life of the assets based on the guidance in this Section. Consistent with the guidance in paragraph 360-10-35-49, intangible assets acquired in business combination or an acquisition by a not-for-profit entity that have been temporarily idled shall not be accounted for as if abandoned.

35.

Supersede paragraph 350-30-35-25, with no link to a transition paragraph,

as follows:

350-30-35-25 Paragraph superseded by Accounting Standards Update 2010- 07.All of the following shall be included in the determination of the unit of accounting used to test indefinite lived intangible assets for impairment:

36. Amend follows:

paragraph

350-30-35-26,

with

no

link

to

a

transition

paragraph,

as

350-30-35-26 All of the following shall be included in the determination of the unit of accounting used to test indefinite-lived intangible assets for impairment: [EITF 02-07, paragraph DISCUSSION, sequence 23]

    • a.

      The unit of accounting shall include only indefinite-lived intangible assets—those assets cannot be tested in combination with goodwill or with a finite-lived asset.

    • b.

      The unit of accounting cannot represent a group of indefinite-lived intangible assets that collectively constitute a business or a nonprofit activity.

    • c.

      A unit of accounting may include indefinite-lived intangible assets recorded in the separate financial statements of consolidated subsidiaries. As a result, an impairment loss recognized in the consolidated financial statements may differ from the sum of the impairment losses (if any) recognized in the separate financial statements of those subsidiaries.

    • d.

      If the unit of accounting used to test impairment of indefinite-lived intangible assets is contained in a single reporting unit, the same unit of accounting and associated fair value shall be used for purposes of measuring a goodwill impairment loss in accordance with paragraphs 350-20-35-9 through 35-18.

  • 37.

    Amend paragraph 350-20-50-2, with a link to transition paragraph 350-10-

65-1, as follows:

78

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