FASB solicits your opinions on the project "Identifiable Intangible Assets and Subsequent Accounting for Goodwill" (FASB Project 2019-720).

You should refer to FASB's ITC(Invitation To Comment) and comments letters from public accountants and other stakeholders. Your letter should be written professionally (including cover letter) and include supporting literature (need to be sited properly).

Give your opinions on

1) Whether changes to financial reporting should be addressed by the Board.

2) Whether and how to proceed with simplifications and/or improvements to these topics, and

3) How optionality in the accounting for intangible assets and goodwill is viewed.

Specifically, they need your answers on Section 1 (Q1-12) and Section 2 (Q13-19) in Appendix (page30-33) of ITC.