Goodwill is created when one company acquires another for more than the value of its hard assets. It used to undergo amortization, or the writing down of goodwill over a number of years.
Most members of FASB want to reintroduce amortization for public companies, Chairman Russell Golden said Wednesday at an event hosted by the International Financial Reporting Standards Foundation and CFA Institute. IASB’s members are largely opposed to reintroducing the amortization of goodwill, saying it could make it harder to verify if an acquisition is working, but they are still considering changes to its goodwill rules. The board decided not to reintroduce amortization in 2017 and instead focus on improving the impairment model, but that has proven difficult.
Precisely why people think Accountants are boring. Just look at the things we argue about.
That’s why ordinary citizen remain confused about the reality of current law, order and the global monetary system which encouraging wide economic disparity; MoneylifeIndia
You overpaid and then want taxpayers to subsidize the cost of paying millions and billions to CEOs.
i hate goodwill.
Oh the kind of important issue that we accountants argue about... no wonder we are generally not welcomed in parties...
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