NFP Relief on Goodwill Accounting

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FASB recently issued Accounting Standards Update 2019-06, which reduces the cost and complexity of goodwill accounting by allowing not-for-profits (NFP) to use two accounting policy elections that 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

Read on for more information.

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