Heads Up: FASB Finalizes Amendments on Testing Indefinite-Lived Intangible Assets for Impairment
Volume 19, Issue 16
This Heads Up discusses the FASB’s recently issued ASU 2012-02, which amends the guidance in ASC 350-30 on testing indefinite-lived intangible assets, other than goodwill, for impairment. The Board is issuing the ASU in response to feedback on ASU 2011-08, which amended the goodwill impairment testing requirements by allowing an entity to perform a qualitative impairment assessment before proceeding to the two-step impairment test.
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