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Amendments to Subtopic 350-20
Publication date: 15 Nov 2019
us FASB ASU 2019-10
3. Amend paragraph 350-20-65-3 and its related heading and amend pending content transition date for all paragraphs that link to paragraph 350-20-65-3 as follows:
Intangibles—Goodwill and Other
Transition and Open Effective Date Information
> Transition Related to Accounting Standards
Update
Updates No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,and No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates350-20-65-3 The following represents the transition and effective date information related to Accounting Standards
Update
Updates No. 2017-04, Intangibles— Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ,and No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates:- The pending content that links to this paragraph shall be effective for annual and any interim impairment tests performed for periods beginning after:
- December 15, 2019, for public business entities that are U.S. Securities and Exchange Commission (SEC) filers , excluding entities eligible to be smaller reporting companies as defined by the SEC. The one-time determination of whether an entity is eligible to be a smaller reporting company shall be based on an entity’s most recent determination as of November 15, 2019, in accordance with SEC regulations.
- Subparagraph superseded by Accounting Standards Update No. 2019-10. December 15, 2020, for public business entities that are notSEC filers
- December 15, 2022 2021, for all other entities, including not-for-profitentities.
- Early adoption is permitted for interim and annual goodwill impairment tests with a measurement date on or after January 1, 2017.
[The remainder of this paragraph is not shown here because it is unchanged.]
Pending Content:
Transition Date: (P) December 16, 2019; (N) December 16, 2022
2021
│Transition Guidance: 350-20-65-3 Note: These transition date changes will be made in a Maintenance Update.
Copyright #year# by Financial Accounting Foundation, Norwalk, Connecticut.
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