The FASB recently issued ASU 2017-04, which essentially simplifies the goodwill impairment testing process by eliminating the Step 2 portion of the existing guidance. In a new paper, experts at Houlihan Lokey provide useful background information on the new guidance, including key observations and the specific dates on which the guidance will go into effect (including early adoption). The paper’s authors are Michael De Simone, Karen Miles, Tomasz Stefanowski, and Paul Vogt.