New AICPA valuation guides

BVWireIssue #135-2
December 11, 2013

The AICPA released the final version of its new accounting and valuation guide, Testing Goodwill for Impairment, which focuses on practice issues related to the qualitative assessment and the first step of the goodwill impairment test. The AICPA also has a webinar scheduled on this guide on December 18 (1 p.m.-3 p.m. EST)

Another guide, Assets Acquired to Be Used in Research and Development Activities, was just released and provides nonauthoritative guidance and illustrations regarding the initial and subsequent accounting for, valuation of, and disclosures related to acquired intangible assets used in research and development activities (IPR&D assets).

Also, BVWire has learned that the AICPA is updating the Business Valuation in Bankruptcy Practice Aid, published in 2002. The new aid, expected in the first quarter of 2014, will be updated for new GAAP, have an increased focus on valuation issues specific to distress situations, and will contain eight new sections.

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