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Chapter 8 — Private-Company Accounting Alternatives

8.2 Accounting Alternatives for Private Companies and Not-for-Profit Entities

8.2 Accounting Alternatives for Private Companies and Not-for-Profit Entities

The paragraphs below discuss the accounting alternatives for certain intangible assets and goodwill. Entities do not need to perform a preferability assessment the first time they elect such alternatives; however, any later change to an accounting policy election requires justification that the change is preferable under ASC 250.