Can we change the date of our annual impairment test for goodwill?
Date of GW impairment test
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Can we change the date of our annual impairment test for goodwill?
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Yes, you can change the date of the test. This would be considered a change in the method of applying an accounting principle that is “preferable.” This change would be accounted for prospectively. The SEC may require a preferability letter unless the change is immaterial and there are transparent disclosures.