INTANGIBLE ASSETS

6 Months Ended

Jun. 28, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

Intangible assets are stated net of accumulated amortization of $46.8 million and $44.3 million at June 28, 2020 and December 29, 2019, respectively. During the twenty-six week periods ended June 28, 2020, the Company added software assets of $71,516 and reclassified $976,954 from property and equipment related to the information technology improvement project. Amortization expense for the fiscal years are comprised of following:


	Thirteen Weeks Ended						Twenty-six Weeks Ended
	June 28, 2020		June 30, 2019		June 28, 2020		June 30, 2019
Client partner lists	$	1,040,405	$	881,525	$	2,091,021	$	1,789,624
Covenant not to compete	66,395		42,250		136,084		84,500
Acquisition intangibles	1,106,800		923,775		2,227,105		1,874,124
Computer software - amortization expense	117,945		79,042		185,082		157,776
Amortization expense	1,224,745		1,002,817		2,412,187		2,031,900
Computer software - selling, general and administrative expense	18,822		19,087		37,644		24,893
Total expense	$	1,243,567	$	1,021,904	$	2,449,831	$	2,056,793

As a result of the certain business developments and changes in the Company's long-term projections, the Company concluded a triggering event had occurred that required an interim impairment assessment to be performed. The qualitative assessment thresholds were met on all reporting units except the finance and accounting group. The Company calculated the quantitative impairment test of the finance and accounting group using the relief from royalty method for the indefinite-lived intangible assets and residual method for the definite-lived intangible assets by asset group. In the professional segment, the Company recognized an $3.7 million trade name impairment loss and an $3.5 million client partner list impairment loss during the thirteen week periods ended June 28, 2020.