Whither Goodwill? Whither Pooling?: The Financial Accounting Standards Board is tackling a comprehensive overhaul of the way American businesses account for business combinations. So far, there has been much media handicapping of the results - even though the Board has yet to float an exposure draft of any proposed standard. The stakes are high - simply put, this project is the touchiest one the FASB has tackled since their early 1990's attempt to bring some economic reality into stock compensation accounting. What follows is a recap of the Board's progress to date.