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Private companies, with respect to goodwill: Must amortize it over a 12-year period. ...

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Accounting

Private companies, with respect to goodwill:
Must amortize it over a 12-year period.
May treat goodwill as a definite lived intangible asset with a 10-year useful life.
May amortize goodwill if the value of the company does not exceed $10 million.
Must treat it as an intangible asset with an indefinite life.
May elect to amortize it over a period of 15 years.
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