New goodwill triggering relief for private companies, not-for-profits

April 1, 2021

FASB issued a standard Tuesday, March 30, that provides an alternative to goodwill impairment triggering event evaluations for private companies and not-for-profits.

Under the alternative, private companies and not-for-profits will have the option to perform a goodwill triggering event assessment, and any resulting test for goodwill impairment, at the end of the reporting period, whether in an interim or annual period.

Private companies and not-for-profits that elect this alternative no longer need to perform this assessment during a reporting period, as the requirement limits to the reporting date only. Learn more.

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