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Section 3064 - Goodwill and intangible assets

Effective date:

January 1, 2011 except for subsequent amendments

Published by the AcSB:

December 2009

Reach out to our Section 3064 Specialist

Jon Kligman


This Section establishes standards for the recognition, measurement, presentation and disclosure of goodwill and intangible assets. It provides that goodwill is not amortized, but is reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of the reporting unit to which the goodwill is assigned may exceed its fair value. When the carrying amount of the reporting unit exceeds its fair value, a goodwill impairment loss is recognized in an amount equal to the excess (not to exceed the carrying amount of the goodwill). A goodwill impairment loss is not reversed.

History of Section 3064




December 2009

Part II of the CPA Canada Handbook  issued

Effective for fiscal years beginning on or after January 1, 2011.

This section incorporates a simplified method of measuring the amount of a goodwill impairment loss.

October 2011

Annual improvements

Paragraph .53, has been amended to clarify that the requirement to expense expenditures on advertising and promotional activities includes expenditures on mail order catalogues and other similar documents intended to advertise goods, services or events to customers.

October 2012

Annual improvements

Paragraph .89, has been amended to eliminate an inconsistency with Section 1520 Income statement. Effective for fiscal years beginning on or after January 1, 2013.

Note: The above summary does not include details of consequential amendments made as the result of other projects.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.