ASC 350 definition
Examples of ASC 350 in a sentence
Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of the Credit Parties and their Subsidiaries shall be deemed to be carried at one hundred percent (100%) of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities and FASB ASC 350 and 360 on goodwill, intangibles and impairments shall be disregarded.
Goodwill resulting from the Transactions is not amortized, and will be assessed for impairment at least annually in accordance with ASC 350.
In accordance with ASC 350, Intangibles—Goodwill and Other, we test goodwill for impairment annually, at the end of our second quarter, or more frequently if events occur which indicate a potential reduction in the fair value of a reporting unit’s net assets below its carrying value.
Goodwill resulting from the Transaction is not amortized, and will be assessed for impairment at least annually in accordance with ASC 350.
In accordance with current accounting standards, the goodwill is not being amortized and will be tested for impairment as required by ASC 350.
The consolidated net income (or deficit) of BGI and its Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP (excluding any losses attributable to the use of a fair value methodology for recognition and measurement of impairment of goodwill identified in accordance with FASB ASC 350).
In accordance with Accounting Standards Codification (ASC) 350, Intangibles—Goodwill and Other, we test goodwill for impairment annually, at the end of our second quarter, or more frequently if events occur which indicate a potential reduction in the fair value of a reporting unit’s net assets below its carrying value.
The annual goodwill impairment testing is performed in accordance with ASC 350, Intangibles – Goodwill and Other.
In accordance with ASC 350, Ducommun performed its required annual impairment test for goodwill using a discounted cash flow analysis supported by comparative market multiples to determine the fair values of its businesses versus their book values.
The Company accounts for intangible assets, primarily patents, in accordance with ASC 350, Intangibles-Goodwill and Other, which requires that intangible assets with estimable useful lives be amortized over their respective estimated useful lives and reviewed for impairment.