The VSCPA supported the issuance of three proposed Accounting Standards Updates (ASU):
- Business Combinations (Topic 805): Accounting for Identifiable Intangible Assets in a Business Combination
- Intangibles — Goodwill and Other (Topic 350): Accounting for Goodwill A
- Derivatives and Hedging (Topic 815): Accounting for Certain Receive-Variable, Pay-Fixed Interest Rate Swaps
The Society suggested some changes to the ASUs, including increasing the maximum goodwill amortization from 10 years to 15 years.