Goodwill and Impairment – International Accounting Standards Board

Date recorded:

At its meeting on April 9-11, 2019, the Board met to discuss (i) the ideas being explored and whether they could help achieve the project objectives. These ideas include requiring better disclosures for business combinations, reintroducing amortization, providing relief from the mandatory annual impairment test and improving how value in use is calculated; and (ii) discussed potential improvements to the disclosure objectives and disclosure requirements of IFRS 3 including: (a) clarifying the IFRS 3 disclosure objectives and adding a new disclosure objective for entities to provide information on the subsequent performance of the acquired, or combined, business; (b) adding requirements for entities to disclose whether the key objectives of the business combination have been achieved; and (c) making other targeted improvements. The Board will discuss which preliminary views on achieving the project objectives to include in the discussion paper. The Board plans to publish the discussion paper in the second half of 2019.

Review the IASB Update and podcast on the Board's Web site.

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