The AICPA’s Financial Reporting Executive Committee (FinREC) has issued a working draft of the AICPA Accounting and Valuation Guide
Testing Goodwill for Impairment . This guide, which was developed by the AICPA Impairment Task Force, provides nonauthoritative guidance and illustrations for valuation specialists, preparers of financial statements, and independent auditors regarding goodwill impairment testing. While the guide does include some guidance from
FASB ASU 2011-08, Testing Goodwill for Impairment (issued in September 2011), it does not provide significant task force commentary or task force prepared example scenarios of the qualitative assessment framework provided therein.
We are looking for your informal feedback on this working draft. All comments will be kept confidential and will not be posted on the AICPA Web site. We are also looking for your input regarding the need for additional implementation guidance in connection with FASB ASU 2011-08. Please refer to
this document for more information.
If you would like to provide comments on the working draft or share your thoughts regarding the need for additional implementation guidance on FASB ASU 2011-08, please e-mail them to Yelena Mishkevich at
ymishkevich@aicpa.org by May 24, 2012, or you can send them by mail to Yelena Mishkevich, Accounting Standards, AICPA, 1211 Avenue of the Americas, 19th Floor, New York, NY 10036. We are looking forward to hearing from you.
The working draft and related schedules from Chapter 3 are available to download as a PDF files. Adobe Acrobat Reader is needed to view a files in PDF format, and it is available as a free download from the Adobe Web site at www.adobe.com/prodindex/acrobat/readstep.html. To begin downloading, click on the item below with the right-hand mouse button. Choose the “Save Target As” option if using a Microsoft browser; choose “Save Link As” if using a Netscape browser. Then, save the file to the appropriate location.
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Notice to Readers: The AICPA, in its sole discretion, has issued this working draft solely in order to solicit feedback and commentary from the professional community. This working draft does not constitute an official position of the AICPA, is not final guidance, and should not be relied upon as such. Permission to use this content is strictly limited to the intended purpose of review and participation in the comment process. Republication of this material in print, on websites or in any other form, format or media without the express written permission of the AICPA is prohibited. Requests for permission to republish or redistribute this material should be directed to copyright@aicpa.org