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March 22, 2011 12:10:01 pm

Nonprofit Healthcare Organizations Need to Evaluate Goodwill Impairment

Nonprofits, especially those in the healthcare industry, need to be prepared for significant shifts in the testing of goodwill impairment. Big changes are being presented by Accounting Standards Codification (ASC) 350 (Intangibles—Goodwill and Other) and ASC 360 (Property, Plant and Equipment).

Evaluation of goodwill impairment will need to take place at least once a year and will apply to tangible and intangible assets alike. The two-stage process includes initial analysis determining whether impairment exists and subsequent analysis to determine the extent of the impairment.

To read a more comprehensive report on these important changes, please visit the Healthcare Financial Management Association Web site.

Tags: Healthcare, Accounting Standards

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