TECHNICAL ROUND UP – IASB AND FSB TOGETHER MULL AMORTISATION OF GOODWILL
July 1st, 2021
The International Accounting Standards Board (IASB) will consider allowing the amortisation of goodwill, maintain some harmony with USA GAAP (generally accepted accounting principles). A joint US Financial Accounting Standards Board (FASB)/IASB education meeting discussed FASB plans to allow goodwill amortisation. “Most of those respondents commenting said that convergence on this topic with US GAAP was desirable,” said a meeting note. A September 2021 IASB board meeting will consider “an initial decision on whether to reintroduce amortisation of ...
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