ASU 2017-04 - Goodwill simplifications - Implementation considerations

On January 26, 2017, the FASB issued Accounting Standards Update (ASU) 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates Step 2 from the goodwill impairment test currently prescribed in U.S. generally accepted accounting principles (U.S. GAAP). ASU 2017-04 is the result of a FASB project to consider whether simplifications to accounting for goodwill such as the accounting alternative available to private companies related to the subsequent measurement of goodwill also should be made available