{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/350/20/#25-recognition","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"350","topic_title":"Intangibles—Goodwill and Other","subtopic":"350-20","subtopic_title":"Goodwill","section":{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"350-20-25-1","para":"25-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><div class=\"norm-text\">See Subtopic <a altsource=\"GUID-2B6707CB-355A-4E7A-8901-9529CE2DB325.ditamap\" class=\"ditamap\">805-30</a> for guidance on recognition at acquisition of <a href=\"/glossary/g/#goodwill\" class=\"term\" title=\"An asset representing the future economic benefits arising from other assets acquired in a business combination, acquired in an acquisition by a not-for-profit entity, or recognized by a joint venture upon formation that are not individually identified and separately recognized. For ease of reference, this term also includes the immediate charge recognized by not-for-profit entities in accordance with paragraph 958-805-25-29.\"><span>goodwill</span></a> acquired in a business combination. See Subtopic <a altsource=\"GUID-8F421D1C-F467-4235-96C7-D5FDABFEFC13.ditamap\" class=\"ditamap\">958-805</a> for guidance on recognition at acquisition of goodwill acquired in an <a href=\"/glossary/a/#acquisition-by-a-not-for-profit-entity\" class=\"term\" title=\"A transaction or other event in which a not-for-profit acquirer obtains control of one or more nonprofit activities or businesses and initially recognizes their assets and liabilities in the acquirer's financial statements. When applicable guidance in Topic 805 is applied by a not-for-profit entity, the term business combination has the same meaning as this term has for a for-profit entity. Likewise, a reference to business combinations in guidance that links to Topic 805 has the same meaning as a reference to acquisitions by not-for-profit entities.\"><span>acquisition by a not-for-profit entity</span></a>. <span class=\"sfragment\" id=\"sfragment_l1r_sdd_kyb\"><span class=\"sfragment-source\">See Subtopic <a altsource=\"GUID-CE09B826-CDC8-43FF-A1EF-FB86248E753A.ditamap\" class=\"ditamap\">805-60</a> for guidance on recognition of goodwill by a <a href=\"/glossary/j/#joint-venture\" class=\"term\" title=\"An entity owned and operated by a small group of businesses (the joint venturers) as a separate and specific business or project for the mutual benefit of the members of the group. A government may also be a member of the group. The purpose of a joint venture frequently is to share risks and rewards in developing a new market, product, or technology; to combine complementary technological knowledge; or to pool resources in developing production or other facilities. A joint venture also usually provides an arrangement under which each joint venturer may participate, directly or indirectly, in the overall management of the joint venture. Joint venturers thus have an interest or relationship other than as passive investors. An entity that is a subsidiary of one of the joint venturers is not a joint venture. The ownership of a joint venture seldom changes, and its equity interests usually are not traded publicly. A minority public ownership, however, does not preclude an entity from being a joint venture. As distinguished from a corporate joint venture, a joint venture is not limited to corporate entities.\"><span>joint venture</span></a> upon formation.</span></span></div></div></div>","snippet":"See Subtopic 805-30 for guidance on recognition at acquisition of goodwill acquired in a business combination. See Subtopic 958-805 for guidance on recognition at acquisition of goodwill acquired in an acquisition by a n…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4dbda9c3bee805389c4b29d727bb7a1df8a009e34402c80baf4ab55c993d9110","downloaded_from":"2026-09-10T00:00:51.479Z","last_downloaded_at":"2026-09-10T00:00:51.479Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482666","source_sha256":"8b0517821cbd117a74c337a6bb628965fcc1160c541f3172d8f680b250a2ab7f"}},{"citation":"350-20-25-2","para":"25-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_6A59E92C-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The excess reorganization value recognized by entities that adopt fresh-start reporting in accordance with Topic <a altsource=\"GUID-3AE0526C-5006-4FF4-AB5D-260757DF1EAB.ditamap\" class=\"ditamap\">852</a></span></span><span class=\"sfragment\" id=\"sfr_6A59EAD1-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"> shall be reported as goodwill and accounted for in the same manner as goodwill. </span></span></div></div>","snippet":"The excess reorganization value recognized by entities that adopt fresh-start reporting in accordance with Topic 852 shall be reported as goodwill and accounted for in the same manner as goodwill.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c76f14276a10a43d24cfd078d1b7e5d9f65cfa6237a7e24bf7f5bfc11bb1f1ae","downloaded_from":"2026-09-10T00:00:51.479Z","last_downloaded_at":"2026-09-10T00:00:51.479Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482666","source_sha256":"8b0517821cbd117a74c337a6bb628965fcc1160c541f3172d8f680b250a2ab7f"}},{"citation":"350-20-25-3","para":"25-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_6A59EC47-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Costs of internally developing, maintaining, or restoring <a href=\"/glossary/i/#intangible-assets\" class=\"term\" title=\"Assets (not including financial assets) that lack physical substance. (The term intangible assets is used to refer to intangible assets other than goodwill.)\"><span>intangible assets</span></a> (including goodwill) that are not specifically identifiable, that have indeterminate lives, or that are inherent in a continuing business and related to an entity as a whole, shall be recognized as an expense when incurred. </span></span></div></div>","snippet":"Costs of internally developing, maintaining, or restoring intangible assets (including goodwill) that are not specifically identifiable, that have indeterminate lives, or that are inherent in a continuing business and re…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:30defd01df17c3680fe61a10cac53c1cde18129906927856f3e9064f609309d4","downloaded_from":"2026-09-10T00:00:51.479Z","last_downloaded_at":"2026-09-10T00:00:51.479Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482666","source_sha256":"8b0517821cbd117a74c337a6bb628965fcc1160c541f3172d8f680b250a2ab7f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a2743622ca93f5fe47139e568f1f55b9c775d37ecb66519d40a326b1ece82964","downloaded_from":"2026-09-10T00:00:51.479Z","last_downloaded_at":"2026-09-10T00:00:51.479Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482666","source_sha256":"8b0517821cbd117a74c337a6bb628965fcc1160c541f3172d8f680b250a2ab7f"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:58aa00208180de5bd246451a9ba01dee098938f6d05d93ec76103cce2a9daa64","downloaded_from":"2026-09-10T00:00:51.479Z","last_downloaded_at":"2026-09-10T00:00:51.479Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482666","source_sha256":"8b0517821cbd117a74c337a6bb628965fcc1160c541f3172d8f680b250a2ab7f"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:58aa00208180de5bd246451a9ba01dee098938f6d05d93ec76103cce2a9daa64","downloaded_from":"2026-09-10T00:00:51.479Z","last_downloaded_at":"2026-09-10T00:00:51.479Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482666","source_sha256":"8b0517821cbd117a74c337a6bb628965fcc1160c541f3172d8f680b250a2ab7f"}}