For today’s banks, meeting the requirement for goodwill impairment testing can be a time-consuming process. Specifically, goodwill of a reporting unit should be tested at least annually.
FASB ASC 350 (formerly SFAS 142), Goodwill and Other Intangible Assets, includes a two-step process to test for and measure impairment of goodwill and other non-amortizing assets. But a recent FASB standard gives companies the option to conduct a qualitative assessment and potentially forego the required two-step process. Could your bank elect the option? Should it?
Length: 2 pages (PDF 88 kB)
Before downloading insights, please take a minute to complete the following form. Your information will be used internally to track popular downloads for future content improvement. Your info will not be given to any third party.
* = required fields