Accounting Standards Update: Intangibles-Goodwill and Other (Topic 350)-Testing Goodwill for Impairment
The purpose of this paper is to reveal why the Financial Accounting Standards Board (FASB) is updating the two step goodwill impairment test. This paper will discuss the reasons for the update, who is affected by the amendments of this update, the main provisions of the update, and when the amendments will be effective. A brief description of what the FASB is and does will be discussed as well.
ACTG 499, Senior Capstone
Frank Paliotta
Banquet Room
9 – 11 AM