The FASB issues Invitation to Comment (ITC) seeking stakeholder input on the accounting for certain identifiable intangible assets. This includes those acquired in a business combination and subsequent accounting for goodwill. Stakeholders are to comment on the ITC by October 7, 2019.
Private companies and not-for-profit organizations currently have accounting alternatives on this topic. However, the FASB staff is receiving mixed feedback on whether the information provided justifies the cost of providing it. Therefore, the staff seeks further input through this FASB Invitation to Comment.
The FASB is hosting a formal roundtable (at a to-be-determined date) after receiving stakeholder thoughts on the FASB Invitation to Comment.
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