Podcast overview
KPMG professionals and FASB practice fellow Dave Yates discuss the FASB’s relief on the goodwill impairment testing date for private companies and NFPs (ASU 2021-03). Plus, proposed FASB changes, including a shift to a goodwill amortization model for all entities.
Applicability
- ASU 2021-03, Accounting Alternative for Evaluating Triggering Events: Private companies and not-for-profits
- Proposed changes: All entities
Podcast contents
- 01:10 - Overview of the current goodwill impairment model
- 03:15 - Triggering events in private entities - ASU 2021-03 summary
- 07:05 - Summary of current FASB goodwill project
- 10:25 - Recent FASB discussions
- 11:30 - Background on International Accounting Standards Board goodwill project
- 12:45 - Action items for companies
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