It’s all good(will) – FASB simplifies goodwill impairment testing
Abstract: Accounting for goodwill just got a lot easier for public companies. In recently finalized guidance, the FASB eliminated the second step of the current two-step goodwill impairment test. That step requires certain companies to calculate the implied fair value of goodwill, a potentially complex and costly process. This article summarizes both the old two-step test and the newer, simpler single-step test.