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Goodwill and Impairment – International Accounting Standards Board

Date recorded:

At its meeting on September 20-24, 2021, 2021, the IASB met to consider its plan to redeliberate the preliminary views it expressed in the Discussion Paper, Business Combinations—Disclosures, Goodwill and Impairment. The Board decided to prioritize performing further work:

  1. to make tentative decisions on the package of disclosure requirements about business combinations described in the Discussion Paper; and
  2. to analyze specific aspects of the feedback on the subsequent accounting for goodwill including: (a) whether it is feasible to make a reliable estimate of the useful life of goodwill and the pattern in which it diminishes; and (b) the potential effects of derecognizing significant amounts of goodwill on transition to an amortization-based model were the Board to decide to reintroduce amortization.

The Board will then redeliberate its preliminary view that it should retain the impairment-only model to account for goodwill.

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

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