A Financial Accounting Standards Board proposal would reduce the cost and complexity of goodwill accounting by allowing not-for-profits (NFP) to use two accounting policy elections that would permit:
- Goodwill amortization over 10 years or less, on a straight-line basis
- Impairment testing only upon a triggering event
- Entity-level impairment assessment
- Ability to subsume certain customer-related intangible assets and all noncompete agreements into goodwill
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