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Guidance to Be Amended on Testing Indefinite-Lived Intangible Assets for Impairment

Published on: 02 Nov 2011

Today, the FASB voted to amend the guidance on testing indefinite-lived intangible assets for impairment and give entities the option of performing a qualitative assessment to determine whether any events or circumstances exist that indicate it is more likely than not that the indefinite-lived intangible asset is impaired. The qualitative assessment would be similar to the new qualitative assessment for goodwill under ASU 2011-08, Testing Goodwill for Impairment. The proposed amendments would be effective for interim and annual impairment tests performed in fiscal years beginning after June 15, 2012, with early adoption permitted.

The Board plans to issue an exposure draft of the proposed amendments later this year.

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