FASB proposal aims to simplify testing of intangible assets

02/16/2012 | InAudit.com

A proposal from the Financial Accounting Standards Board would simplify impairment testing of indefinite-lived intangible assets. The rule would let companies forgo testing of assets such as trademarks and licenses when their value is unlikely to have changed. The proposal would lower the cost of impairment testing, the FASB said. The existing rule requires companies to test indefinite-lived intangible assets annually.

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