To the Point - Private companies and NFPs can evaluate goodwill for impairment only as of their reporting dates

1 Apr 2021 PDF
Subject AccountingLink
Publications To the Point


The FASB issued final guidance that allows private companies and not-for-profit entities to assess whether triggering events for goodwill impairment have occurred only as of their reporting dates. Entities can elect the accounting alternative regardless of whether they have elected the existing accounting alternative that allows them to amortize goodwill. The guidance is effective for fiscal years beginning after 31 December 2019. Entities may apply it for financial statements that have not yet been issued or made available for issuance as of 30 March 2021.

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