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.
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
Major Topics
- Goodwill impairment testing
- FASB accounting and reporting requirements related to goodwill
- ASC Topic 350-20
- Goodwill disclosure requirements
