This course provides an 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 topics such as the initial recognition of goodwill and subsequent measurement requirements including the accounting alternative allowed for certain eligible entities. This course also addresses the disclosure requirements for goodwill and is current through the issuance of ASU 2019-06.
Learning Objectives
Upon successful completion of this course, participants will be able to:
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
Major Topics
Business Combination Refresher
Initial Recognition of Goodwill
Overall Accounting for Goodwill
Impairment Testing Requirements
Qualitative vs. Quantitative
Performing the Qualitative Test
Performing the Quantitative Test
Income Tax Considerations
Goodwill Impairment Accounting Alternative
Goodwill Disclosures for Public Entities
Goodwill Disclosures for Accounting Alternative
Real World Examples of Goodwill Disclosures
