ASU 2021-03 provides an accounting alternative for private companies and not-for-profit entities to assess goodwill impairment triggering events only at reporting dates (interim or annual).
Private companies and NFPs | |
---|---|
Annual periods – Fiscal years beginning after |
December 15, 2019 |
Interim periods – In year of adoption |
The earliest interim period in the year of adoption for which financial statements have not been issued (or made available for issuance) |
Early adoption permitted? |
Yes, for interim or annual financial statements that have not been issued (or made available for issuance) |
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