Patel: We’ve seen constant change around goodwill in the past few years.
New guidance from FASB continues to grow in complexity, and in 2019 that translated to noticeable bandwidth effects on financial reporting professionals.
VRC conducted a survey of financial statement preparers and users on the topic of goodwill accounting and impairments; Patel plans to convey key issues and concerns they raised to the standard-setting body.
To better understand the needs and views of “users” of financial statements, VRC surveyed financial analysts, a group mainly comprised of CFA charterholders, who conduct fundamental analysis on public companies.
We polled our clients for their thoughts on the current accounting for goodwill and intangible assets and have summarized our findings.
Response to the FASB suggests a number of ways current impairment testing could be improved and streamlined.
Take a look at VRC’s latest Industry Update on IT Government Contracting for relevant market data, trends in EBITDA multiples, notable deals and more.
A video discussion about corporate goodwill, goodwill impairment, and financial analysis techniques that aid in determining if a business combination is living up to performance expectations.
Opinion: The FASB is soliciting feedback on whether and how to further simplify the accounting for goodwill and intangible assets for public companies. This may be setting off down a harmful course of accounting treatment.
Valuations in the U.S. are generally required around a transaction and can be grouped by needs for financial reporting, tax, or legal purposes, as well as for compliance or recurring regulatory purposes outside of a transaction.