Research the FASB Accounting Standards Codification Topic 350 (ASC 350) standards for goodwill
impairment using the “FASB Accounting Standards Codification Database” web link, then summarize therelevant ASC 350 standards and components (including topic, subtopic(s), section(s), and subsection(s))
to do the following:
1. Describe the treatment for when a company has similar economic characteristics.
2. Describe the treatment for when a company does not have similar economic characteristics.
3. Describe the treatment for a public company.
4. Describe the treatment for a private company.
5. Describe the treatment for when a company elects the accounting alternative.
6. Describe the treatment for when a company does not elect the accounting alternative.
7. Describe the treatment for when a company has a triggering event occur.
8. Describe the treatment for when a company does not have a triggering event occur