This content was published prior to the merger of equals between BKD and DHG on June 1, 2022. See all FORsights for the most up-to-date articles, webinars, and videos.
Private Companies & NFPs Get Limited Relief on Goodwill Assessments
The COVID-19 pandemic, unprecedented quarter-to-quarter market volatility, and economic uncertainty highlighted the cost and complexity of complying with existing goodwill impairment guidance. Under current generally accepted accounting principles, entities must monitor for and evaluate interim goodwill triggering events as they occur throughout the year. This article provides details on Accounting Standards Update 2021-03, which FASB issued on March 30, 2021, to provide limited relief.