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FASB drops identifiable intangible assets and subsequent accounting for goodwill project

On June 15, the FASB discussed the identifiable intangible assets and subsequent accounting for goodwill project. After reflecting on the progress of the project to date and the potential cost/benefit considerations of the tentative conclusions previously reached, the Board decided to remove the project from its technical agenda. The Board may retain this project on its research agenda and will monitor the status of the IASB's goodwill and impairment project.
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