FASB Requests Feedback Related to Intangible Assets

The FASB has published an invitation to comment (ITC) to seek feedback on whether it should pursue a standard-setting project related to intangible assets. The ITC’s primary focus is on the initial recognition of such assets. Specific topics on which the Board is requesting comments include:

• The extent to which improvements to current GAAP are needed in this area.
• The types of intangible assets or intangible asset groups to consider as part of the project.
• The costs and benefits of any potential solutions related to the accounting for intangible assets.
• Whether intangible assets should be accounted for differently depending on how they are obtained.
• The types of information about intangible assets that investors use and how they use that information in deciding how to allocate capital.

For more information, see the press release on the FASB’s Web site.