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FASB Statement 142, Goodwill and Other Intangible Assets—official summary

Historical FASB summary explaining the finite life, indefinite life, goodwill, impairment, and disclosure architecture later organized in the Codification.

Authority and currency

About this authority

Publisher
Financial Accounting Foundation
Standing
Primary authority
Version
Statement 142 summary
Relevant parts
Official summary; current Topic 350 and entity-specific alternatives control
Currency
superseded · checked Aug 8, 2026

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The summary is useful for the architecture: finite-lived intangibles continue through amortization, indefinite-lived assets and goodwill take different subsequent paths, and goodwill belongs to a reporting-unit model. Current Codification research remains mandatory for a dated conclusion.