On January 26, 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-04, which simplifies the test for goodwill impairment and amends US generally accepted accounting principles (GAAP) ASC Topic 350,Intangibles—Goodwill and Other. The main objective ...
Introducing the new test Accounting Standards Update (ASU) No. 2017-04,Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, simplifies impairment testing by eliminating Step 2. Under the new guidance, a company compares a reporting unit’s fair value to ...
F. The New Leases Standard: FASB ASU No. 2016-02Abstract No Abstract.American Institute of Certified Public Accountants, Inc.doi:10.1002/9781119487111.app6Aicpa