FASB Issues Invitation to Comment on Certain Identifiable Intangible Assets and the Subsequent Accounting for Goodwill

The FASB has issued an invitation to comment (ITC), Identifiable Intangible Assets and Subsequent Accounting for Goodwill.

The Board is releasing the ITC to seek further feedback in light of mixed comments from public-company stakeholders about the costs versus the benefits of providing information about accounting for certain identifiable intangible assets acquired in a business combination and the subsequent accounting for goodwill. The ITC is divided into five sections addressing the following topics:

1. Whether to change the subsequent accounting for goodwill.
2. Whether to modify the recognition of intangible assets in a business combination.
3. Whether to add or change disclosures about goodwill and intangible assets.
4. Comparability and scope.
5. Other topics for consideration.

Comments on the ITC are due by October 7, 2019. For more information, see the press release, video, and ITC on the FASB’s Web site.