ASU 2014-02

The Private Company Council (PCC) added this issue to its agenda in connection with a separate but related issue addressing identifiable intangible assets acquired in a business combination. Because goodwill is a residual asset calculated after recognizing other (tangible and intangible) assets and liabilities acquired in a business combination, any modifications to the initial recognition and measurement guidance for identifiable intangible assets would correspondingly change the goodwill amount recognized in the business combination.