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Goodwill Impairment Testing

  • Accountant
  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CBA/MCBA
  • FPAC
  • CFIRS
  • CWS

Published: December, 2021

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

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

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 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.

Attendees in this CPE webinar helps in understanding 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.

Speaker in this CPE 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 CPE accounting webinar is 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 analyze the FASB in ASC Topic 350-20.
  • 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.

Recommended For

  • This Online CPE text-based webinar is recommended for CPAs, CIAs, CMAs, IAPs, QIALs, and other accounting professionals who are seeking an advanced understanding of the accounting, valuation, and disclosures related to goodwill impairment testing.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • Chief Accounting Officer
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
  • 2 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 2 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
  • 2 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
  • 2 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
  • 2 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 2 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 2 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
  • 2 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 2 PL Credit of Finance for Chartered Financial Analyst (CFA)
  • 2 CPE Credit of Financial accounting for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CRE Credit of General finance principles and financial concepts for Certified Corporate FP&A Professional (FPAC)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Kelen Camehl, CPA (US), MBA

Advisor, Kelen Camehl CPA

Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam.  He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".   

Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX.  Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment.  Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.

About Company


Faq

FAQs content

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