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Podcast overview
KPMG professionals and FASB practice fellow Dave Yates discuss the FASB’s relief on the goodwill impairment testing date for private companies and NFPs (ASU 2021-03). Plus, proposed FASB changes, including a shift to a goodwill amortization model for all entities.
Applicability
- ASU 2021-03, Accounting Alternative for Evaluating Triggering Events: Private companies and not-for-profits
- Proposed changes: All entities
Podcast contents
- 01:10 - Overview of the current goodwill impairment model
- 03:15 - Triggering events in private entities - ASU 2021-03 summary
- 07:05 - Summary of current FASB goodwill project
- 10:25 - Recent FASB discussions
- 11:30 - Background on International Accounting Standards Board goodwill project
- 12:45 - Action items for companies
Explore more
Resource
Goodwill private company alternative
FASB finalizes private company alternative for timing of goodwill triggering event assessment.
Resource
Handbook: Impairment of nonfinancial assets
Latest edition: KPMG in-depth guide to impairment testing, covering the models in ASC 350-20, ASC 350-30 and ASC 360.
Meet our team
Karen Silverman
Partner, Audit, KPMG LLP
Nick Burgmeier
Partner, Dept. of Professional Practice, KPMG US
Karen Silverman
Partner, Audit, KPMG LLP
Nick Burgmeier
Partner, Dept. of Professional Practice, KPMG US