Reminders on Changes to Accounting for Business Combinations
During 2015, the Financial Accounting Standards Board (FASB) released two Accounting Standards Updates (ASU) that impact the way companies account for business combinations.
Perspectives: Private Company Goodwill Accounting (Accounting Standards Update No. 2014-02)
Beginning in 2015, private companies will need to make an accounting election to either begin amortizing goodwill or disclose the election to continue the historical process of assessing goodwill through an annual impairment test.
Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern
In 2014, the FASB issued several new standards that will impact companies in future periods.
Perspectives: Using Qualitative Impairment Testing For Indefinite Lived Intangible Assets
ASU 2012-02 Intangibles-Goodwill and Other (Topic 350): Is there an opportunity to reduce testing and gain efficiencies in impairment testing? Testing Indefinite-Lived Intangible Assets for Impairment provides companies an opportunity to do just that.