Goodwill: presentation and disclosure requirements
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Goodwill: presentation and disclosure requirements

Jun 21, 2022 · 310 KB Download

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We continue our reporting on Matters for Further Consideration (MFC) in peer review with our initial look at the MFCs for 2021 peer reviews pertaining to the presentation and disclosure requirements related to goodwill. We noted an above-average number of MFCs related to goodwill disclosures, specifically. Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 350, Intangibles—Goodwill and Other, provides guidance for presentation and disclosure of goodwill. The peer review MFCs indicated failures to disclose gross carrying amounts and accumulated amortization, information about how and when reviews were made for impairment, the nature of the goodwill or the amortization methods being used, among others. This report details the relevant presentation and disclosure requirements related to goodwill.

Download the CPEA report: Goodwill: Presentation and Disclosure Requirements

File name: CPEA June 2022 report – Goodwill – Presentation and Disclosure Requirements.pdf

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