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Goodwill Impairment Testing

5 (2)

Kelen Camehl, CPA (US), MBA

Kelen Camehl CPA

  • CMA
  • CPA (US)

Published: March, 2021

Before starting this self study program, please go through the instructional document.

Overview

  • Overall Accounting for Goodwill
  • Impairment Testing Requirements
  • Performing the Quantitative Test
  • Goodwill Impairment Accounting Alternative
  • Goodwill Disclosures for Accounting Alternative

Course Description

Companies with recorded goodwill in their financial statements are required to conduct annual goodwill impairment testing. Without sound knowledge of the mechanics to perform the assessment in accordance with the accounting literature, and acceptable to auditors, the resulting process becomes a time-consuming, frustrating and stressful exercise. This hands-on, problem-solving webinar will Enable you to view impairment assessment through the eyes of the auditor to ensure your company prepares acceptable levels of documentation and reaches the appropriate conclusions.

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.

This webinar guides on recently enhanced to simplify goodwill impairment testing for all entities, both public and nonpublic. This webinar will provide an overview of these recent enhancements and the impact on financial statements, Also provides accounting and valuation guidance for impairment testing of goodwill. Specifically, it focuses on practice issues related to the qualitative assessment and the first step of the two-step test that requires hypothetical business combination accounting for purposes of measuring an impairment loss The webinar will provide accountants with a thorough standing of ASU 2015-02, including the definition of a public business entity, the disclosure rules, and the effect that this accounting standard update will have on the financial statements.

This webinar is a helpful for auditors, accountants and valuation specialists seeking an advanced understanding of the accounting, valuation, and disclosures related to goodwill impairment testing (including the qualitative assessment). It is also a vital resource for preparers of financial statements of public and private companies that follow FASB guidance on goodwill.

Learning Objectives

  • To Identify the recognition requirements related to goodwill
  • To Recognize overall characteristics of goodwill impairment testing
  • To Recognize the Difference between the qualitative and quantitative test of goodwill impairment
  • To Identify key characteristics of the accounting alternative for goodwill
  • To Recall the key disclosure requirements for goodwill and goodwill impairment losses

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Cloud Accountants
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • VP Accounts
  • Young CPA

Testimonial

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