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Subsequent accounting for goodwill for public business entities and not-for-profit entities

The objective of this project is to reduce the cost and complexity of the subsequent accounting for goodwill for public business entities and not-for-profit entities (NFPs). This project is phase 1 in the FASB's attempt to simplify accounting for goodwill for public business entities and not-for-profit entities. Phase 2 is the separate FASB project, Accounting for goodwill impairment.

 

Meeting minutes

FASB Board discussions regarding this project are found in the following meeting minutes:

  • June 20, 2016 — The Board discussed the status of this project.
  • October 28, 2015 — The FASB decided to separate its accounting for goodwill for public business entities and not-for profit entities into two phases. Subsequent accounting for goodwill for public business entities and not-for-profit entities remains as phase 1 and the separate FASB project, Accounting for goodwill impairment, became phase 2.
  • April 7, 2015 — The Board met to discuss issues relating to the development of an exposure draft addressing accounting for goodwill.
  • November 5, 2014 — The Board discuss the subsequent measurement of goodwill, the results of the IASB’s post-implementation review of IFRS 3, and the results of a study on the use of qualitative assessment.
  • March 26, 2014 — The Board discussed the potential model for subsequent measurement of goodwill for public business entities and not-for-profits.
  • February 12, 2014 — The Board discussed potential alternatives for subsequent measurement of goodwill for public business entities and not-for-profits.
  • November 25, 2013 — The Board added this project to its agenda.

 

Current status

At its October 28, 2015, meeting, the FASB directed its staff to research the qaulitative assessment for entities with reporting units with a zero or negative carrying value.

 

Project milestones

Date Developments Comments
November 25, 2013 Added to the FASB's agenda.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.