FASB eyes giving public companies method to write down goodwill

02/16/2014 | Compliance Week

The Financial Accounting Standards Board is considering providing the same straightforward method to write down goodwill to public companies that it did with private companies. The standard-setting board has directed its staff to research two possible methods by which this could be done: a one-step impairment test and a direct write off of goodwill. One FASB member wants to wait for related research being conducted on intangible assets, and for a review underway by the International Accounting Standards Board on business combination standards.

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