Financial Accounting News

Goodwill Accounting Strategy Confounds Standard Setters

July 23, 2019, 7:25 PM

U.S. and international standard setters offered different approaches on how to overhaul goodwill accounting at their annual meeting in London.

Goodwill reporting under international standards was “too little too late,” Financial Accounting Standards Board member Christine Ann Botosan said at a meeting between FASB and the International Accounting Standards Board July 23.

  • IASB plans to ask companies and financial report users later this year whether it should improve the accounting treatment of goodwill—the intangible asset that occurs when one company buys another and the price of the acquisition exceeds its fair market value.
  • FASB also is considering changes to...
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