Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

Exercise 30

In 2007 Sprint Nextel Corporation reported a large goodwill impairment loss.Referring to Sprint Nextel's 2007 financial statements and applicable financial reporting standards, answer the following questions:
Is impairment of goodwill and other intangible assets reversible under U.S.GAAP How about under IFRS (Refer to FASB Topic 350 Intangibles-Goodwill and Other, and IAS 36 Impairment of Assets)