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Heads Up — Amendments Proposed to Guidance on Impairment Testing

Published on: Apr 24, 2011

This issue discusses the FASB’s proposed Accounting Standards Update (ASU) Testing for Goodwill Impairment. Under the proposed ASU, entities testing goodwill for impairment would have the option of performing a qualitative assessment before calculating the fair value of the reporting unit (i.e., step 1 of the goodwill impairment test). If entities determine, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not greater than the carrying amount, a quantitative calculation would not be needed.

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