ASC 350

ASC 350, formerly SFAS 142, requires that tangible and indefinite-lived intangible assets, as well as goodwill, must be analyzed to determine whether their value has been impaired. ASC 350 does not presume that all goodwill and all other intangible assets have finite lives, but instead, goodwill and intangible assets that have indefinite useful lives be tested at least annually for impairment.