Goodwill Impairment Basics and Testing
Author: Kelen Camehl
| CPE Credit: |
3 hours for CPAs |
This course provides a basic overview of goodwill impairment testing. The accounting and reporting requirements related to goodwill are prescribed by the Financial Accounting Standards Board (FASB) in ASC Topic 350-20. This course focuses on the subsequent measurement requirements including the accounting alternative allowed for certain eligible entities. This course also addresses briefly describes the disclosure requirements for goodwill and is current through the issuance of ASU 2019-06.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: September 2020
Topics Covered
- Introduction
- Overall Accounting for Goodwill
- Qualitative vs. Quantitative
- Performing the Qualitative Test
- Income Tax Considerations
- Goodwill Impairment Accounting Alternative
- Goodwill Disclosures for Public Entities
- Goodwill Disclosures for Accounting Alternative
- Business Combination Refresher
- Initial Recognition of Goodwill
- Overall Accounting for Goodwil
- Impairment Testing Requirements
- Performing the Qualitative Test
- Performing the Quantitative Test
- Goodwill Impairment Accounting Alternative
- Goodwill Disclosures for Public Entities
- Goodwill Disclosures for Accounting Alternative
- Real World Examples of Goodwill Disclosures
Learning Objectives
- Recognize overall characteristics of goodwill impairment testing
- Differentiate between the qualitative and quantitative test of goodwill impairment
- Identify key characteristics of the accounting alternative for goodwill
- Recognize the key disclosure requirements for goodwill and goodwill impairment losses
- Identify the recognition requirements related to goodwill
- Recognize overall characteristics of goodwill impairment testing
- Differentiate between the qualitative and quantitative test of goodwill impairment
- Identify key characteristics of the accounting alternative for goodwill
- List the key disclosure requirements for goodwill and goodwill impairment losses
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (3 hours)
Program Prerequisites
None
Advance Preparation
None
