Can You Amortize Goodwill?

Earlier, Goodwill was amortized.
Presently, under the US GAAP and IFRS, goodwill is not amortized rather the company needs to value the fair market value of goodwill every year.
If the fair market value of the goodwill is less than the historical cost of the goodwill for which it was purchased, then this impairment is recorded to bring down the value to the fair market value.
If the fair market value of the goodwill is more than the cost it was purchased for, then it is not seen anywhere in the financial statements of the company.
The management of the company needs to calculate the fair market value and then determine any impairment that is seen.
Though, the private companies in the United States of America still can amortize goodwill for a period of 10 years.