In addition to the IPR&D guide, the AICPA’s Financial Reporting Executive Committee (FinREC) has also issued a working draft of a second Accounting and Valuation Guide: Testing Goodwill for Impairment. Since then, FinREC has sought feedback on both working drafts “from valuation specialists, preparers, auditors, financial statement users, and other interested parties,” says Yelena Mishkevich, the AICPA’s technical manager for its Accounting Standards Team.
The original deadline for comments, March 15, fell just before the busy tax season. “Due to requests for additional time from respondents, comments on these two working drafts will now be accepted until May 24, 2012,” Mishkevich says. Anyone who wants to provide feedback should still send their comments by e-mail directly to firstname.lastname@example.org. To review the working drafts, here are the links to the Goodwill Impairment guide and the IPR&D guide.
Please let us know
if you have any comments about this article or enhancements you would like to see.