PODCAST

FRV podcast: Current developments in goodwill

An overview of recent FASB developments including ASU 2021-03, plus proposed changes to the accounting model.

Karen Silverman

Karen Silverman

Partner, Dept. of Professional Practice, KPMG US

+1 212-954-1377

Nick Burgmeier

Nick Burgmeier

Partner, Dept. of Professional Practice, KPMG US

+1 212-909-5455

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

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