Using Q&As and examples, this guide explains in depth the impairment models for goodwill, indefinite-lived intangible assets and long-lived assets. This latest edition includes the FASB’s relief on the goodwill impairment testing date for private companies and not-for-profits.
Effective date of ASU 2021-03 | Private companies and NFPs |
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Annual periods – Fiscal years beginning after |
Dec. 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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