Published: December, 2021
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.
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.