On January 26, 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2017-04, Intangibles – Goodwill and Other (Topic 350), which is intended to simplify goodwill impairment testing. This publication provides an overview of the goodwill impairment testing procedures as provided in the new standard as well as specific income tax factors that should be considered when performing such procedures.
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