FASB has issued an Invitation to Comment aimed to provide feedback to the standard setter on the subsequent accounting for goodwill as well as feedback related to identifiable intangibles. In 2014, the FASB using a PCC alternative allowed private companies to amortize goodwill. In 2019, they extended that alternative to nonprofits. The FASB is looking for feedback on the value of the impairment test and how it could be simplified. It also throws out the idea of going back to an amortization concept for all entities and the ITC discusses the potential periods for amortization. In 2014, the FASB also through a PCC alternative allowed certain identifiable intangibles to be lumped into goodwill. Nonprofits in 2019 were also granted this alternative. The ITC discussed what potential changes for all entities could come out of the standard. This ITC is the first step in what could be a long process aimed at updating goodwill. Comments are due October 7, 2019.