PCC Proposes Goodwill Amortization to FASB Reviewed by Momizat on . [caption id="attachment_12961" align="aligncenter" width="640"] FASB[/caption] In an article titled, “PCC to Ask FASB to Endorse First Private Company GAAP Exce [caption id="attachment_12961" align="aligncenter" width="640"] FASB[/caption] In an article titled, “PCC to Ask FASB to Endorse First Private Company GAAP Exce Rating: 0
You Are Here: Home » QuickPress » PCC Proposes Goodwill Amortization to FASB

PCC Proposes Goodwill Amortization to FASB

FASB

FASB

In an article titled, “PCC to Ask FASB to Endorse First Private Company GAAP Exceptions”, under the subhead, “Business combinations”, the Journal of Accountancy reveals that the Private Company Council (PCC) approved a proposal to FASB that would allow a private company to elect to amortize goodwill acquired in a business combination on a straight line basis over 10 years or less. The proposal is conditional on the fact that an entity can prove that another useful life is more fitting based on demonstrable facts. The proposal also contains simplification of the impairment test for goodwill.

 

The National Association of Certified Valuators and Analysts (NACVA) supports the users of business and intangible asset valuation services and financial forensic services, including damages determinations of all kinds and fraud detection and prevention, by training and certifying financial professionals in these disciplines.

Number of Entries : 1513

©2017 NACVA and the Consultants' Training Institute • (800) 677-2009 • 5217 South State Street, Suite 400 Salt Lake City, UT USA 84107

event themes - theme rewards

UA-49898941-1
lw