FASB eliminated Step 2 from the goodwill impairment test in an effort to simplify accounting in a new standard issued Thursday. Under the amendments issued Thursday, an entity should perform its ...
In the Step 2 test, an entity performs a hypothetical purchase price allocation to determine the amount of an impairment. With the elimination of Step 2, entities will now record impairment based ...
Despite a new allowance in accounting rules for companies to shed the most oppressive part of goodwill impairment testing, not all public companies are rushing to avail themselves of the ...
Goodwill impairment testing would be simplified under a proposal FASB issued Thursday. FASB proposed removing Step 2 from the current goodwill impairment test. Under current GAAP, Step 2 includes ...
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