Overview
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Identifying Reporting Units
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Performing the Qualitative Test
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Assigning Goodwill to Reporting Units
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Goodwill Impairment Accounting Alternative
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Goodwill Disclosures for Accounting Alternative
Course Description
Companies with recorded goodwill in their financial
statements are required to conduct annual goodwill impairment testing. Without a
sound knowledge of the mechanics to assess under the accounting literature, and
acceptable to auditors, the resulting process becomes a time-consuming,
frustrating and stressful exercise.
This
hands-on, problem-solving CPE 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 CPE 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. It 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 CPE text-based webinar guides you with the recently
enhanced to simplify goodwill impairment testing for all entities, both public
and nonpublic. It will provide an overview of these recent enhancements and the
impact on financial statements, Also provide 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.
It 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 CPE webinar is helpful for auditors, accountants, and valuation
specialists seeking an advanced understanding of the accounting, valuation, and
disclosures related to goodwill impairment testing. 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 recognize
the overall characteristics of goodwill impairment testing.
- To analyze
the FASB in ASC Topic 350-20.
- To analyze
the recent enhancements and the impact on financial statements of
ASC Topic 350-20.
- To recognize
the difference between the qualitative and quantitative test of goodwill
impairment.
- To identify
the key characteristics of the accounting alternative for goodwill.
- To analyze
the key disclosure requirements for goodwill and goodwill impairment
losses.