At a late-March meeting, the Financial Accounting Standards Board (FASB) added a project to provide guidance on determination of the useful life of renewable intangible assets. The Board directed its staff to explore various alternatives, including revisiting comments received on the proposed FSP FAS 142-d (Amortization and Impairment of Acquired Renewable Intangible Assets) and considering factors such as the pattern of economic benefit and an entity’s historic use. To read the full project update, click here.
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