to carry out the shorter of necessary daily estimated life of operations. the asset or the life of the lease. Balance Sheet Existence or Completeness Rights and Valuation or Presentation and Accounts Occurrence Obligations Allocation Disclosure Intangible assets, Intangible assets The intangible The company has a Items are Intangible assets net through assets account right to use and amortized on a should be listed documentation should include record all straight-line basis properly net of and outside customer intangible assets. over estimated amortization. The sources can help contracts, acquired useful lives notes should include with proof of the technology, ranging from two a list of all assets existence of such patents, to 25 years. that fall under the intangible assets, distributor and intangible assets for example the provider networks, account, along with patent office. a perpetual license, methods for and other amortization. intangible assets. Goodwill, net Goodwill exists Goodwill is The company has The company Goodwill should be and is recognized complete based on the right and estimates the fair estimated at the fair for the excess of appropriate obligation to value of each value of each the purchase price factors involved in record and reporting unit reporting unit on the over the fair value the discounted measure goodwill using a balance sheet and of tangible and cash flow model on businesses that combination of a should be reviewed identifiable and market-based they acquire. discounted cash for impairments. intangible net approach in flow model and a assets of determining the market-based businesses the correct fair value approach and company acquires. amount to report. reconciles the aggregate fair
to carry out necessary daily operations. the shorter of estimated life of the asset or the life of the lease. Balance Sheet Accounts Existence or Occurrence Completeness Rights and Obligations Valuation or Allocation Presentation and Disclosure Intangible assets, net Intangible assets through documentation and outside sources can help with proof of the existence of such intangible assets, for example the patent office. The intangible assets account should include customer contracts, acquired technology, patents, distributor and provider networks, a perpetual license, and other intangible assets. The company has a right to use and record all intangible assets. Items are amortized on a straight-line basis over estimated useful lives ranging from two to 25 years. Intangible assets should be listed properly net of amortization. The notes should include a list of all assets that fall under the intangible assets account, along with methods for amortization. Goodwill, net Goodwill exists and is recognized for the excess of the purchase price over the fair value of tangible and identifiable intangible net assets of businesses the company acquires. Goodwill is complete based on appropriate factors involved in the discounted cash flow model and market-based approach in determining the correct fair value amount to report. The company has the right and obligation to record and measure goodwill on businesses that they acquire. The company estimates the fair value of each reporting unit using a combination of a discounted cash flow model and a market-based approach and reconciles the aggregate fair Goodwill should be estimated at the fair value of each reporting unit on the balance sheet and should be reviewed for impairments.