An article on the FEI website states:
"Issued on January 26, 2017, Accounting Standards Update No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, requires entities to measure a goodwill impairment loss as the excess of a reporting unit’s carrying amount over its fair value. The eliminated Step 2 had required entities to measure a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill to the carrying amount of that goodwill."
Is this a step in the right direction, or no step at all?
https://www.financialexecutives.org/Topics/Accounting/FASB-Eliminates-Step-2-of-Goodwill-Impairment-Mode.aspx