At least one of the Financial Accounting Standards Board’s simplification initiatives is proving to be so popular that some companies want to adopt it as of yesterday.

It involves eliminating an extra step for goodwill impairment tests. Late last month, FASB released a new standard to simplify the goodwill impairment test, allowing many companies that don’t already apply the private company accounting alternative for goodwill to skip the extra step (see FASB updates goodwill impairment standard).

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access