FASB Discusses Intangible Assets and Goodwill

At its May 4, 2022, meeting, the FASB discussed its project on identifiable intangible assets and the subsequent accounting for goodwill and shared its “leanings to present goodwill amortization in the same location as goodwill impairment in the income statement and not in other comprehensive income.” The Board directed the staff to continue researching other income statement presentation alternatives. No tentative decisions were made.