FASB Seeks Stakeholder Input on Certain Identifiable
and the Subsequent Accounting for Goodwill
Norwalk, CT, July 9,
2019—The Financial Accounting Standards Board (FASB)
today issued an
Invitation to Comment (ITC) seeking stakeholder input on the accounting for
certain identifiable intangible assets acquired in a business combination and
subsequent accounting for goodwill. Stakeholders are asked to comment on the ITC
by October 7, 2019.
Private companies and not-for-profit
organizations currently have accounting alternatives on this topic. However, in
preliminary outreach with public company stakeholders, the FASB staff received
mixed feedback on whether the utility of the information currently being
provided justifies the cost of providing it. Therefore, the staff is seeking
further input from a broader base of stakeholders to inform the Board's future
After receiving comments, the FASB will host a
formal roundtable (at a to-be-determined date) to supplement stakeholders'
feedback. The Invitation
to Comment and a brief
video on the topic are available at http://www.fasb.org/.