Okay, so it’s not Peace on Earth, but CFOs are a contented lot because of a proposed goodwill impairment testing standard.
The comment deadline just closed on a proposed FASB accounting standards update designed to lessen the burden of goodwill impairment tests, and financial professionals are giving the proposal a high five.
“We fully support the FASB’s effort to simplify goodwill impairment testing and believe the proposed guidance has the potential to reduce the cost and complexity of annual testing,” wrote Scott Blackley, senior vice president and controller of Capital One Financial Corporation, a company with $13.6 billion in goodwill on its Q1 balance sheet.
See full Article.
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