Editorial

It is not often that the words "passion" and "emotion" are used by IASB members during their discussions around the board table, but it happened recently that the word "passion" was used twice, and "emotion" once, albeit that the members themselves were not displaying any stronger feelings than usual about the subject matter! The project that elicited these reactions was Business Combinations - Disclosures, Goodwill and Impairment, and the board was having a preliminary discussion on the extensive feedback it has received to its Exposure Draft (ED), which contained a package of proposals aimed to enhance transparency about business acquisitions, and impairment testing, as well as to alleviate some of the cost burden of testing for companies.