3. If a non-public company elects to amortize goodwill, Steps 1 and 2 still are applied to the remaining, unamortized goodwill balance.  Significant disclosure requirements for goodwill exist in any...

3. If a non-public company elects to amortize goodwill, Steps 1 and 2 still are applied to the remaining, unamortized goodwill balance.

 Significant disclosure requirements for goodwill exist in any period in which goodwill changes. A note must accompany the balance sheet in any period that has a change in goodwill. The note would explain the goodwill acquired, the goodwill impairment losses, and the goodwill written off as part of a disposal of a reporting unit. It is further required that information be included that provides the details of any impairment loss recorded during the period. The information would include the reporting unit involved, the circumstances leading to the impairment, and the possibility of further adjustments.