Goodwill Impairment
The requirements for assessing the valuation of goodwill subsequent to acquisition have
significantly changed over the years, most recently with the option to perform qualitative
assessments prior to the commencement of the two step impairment test. The evaluation of
goodwill requires significant judgment and this authoritative literature is accompanied by
significant implementation guidance.
The standard surrounding goodwill provides the opportunity to:
1. obtain a further understanding of the related concepts learned from textbooks
2. sharpen your research skills
3. apply judgment in a relevant scenario
Assume you are asked to research the financial statement issues surrounding goodwill.
Please respond to the following questions. Do not cite any textbooks as textbooks are
not authoritative guidance with regards to accounting research.
Follow APA rules for attributing sources.
Respond to the following:
1) Identify and cite the relevant topics, subtopics from the FASB
Accounting Standards Codification
2) Identify the specific factors discussed in the Codification
3) Beyond the assessment of qualitative factors, what other evidence should be
considered for the purpose of goodwill analysis?
4) Describe differences and similarities in the treatment of goodwill impairment
between the FASB and the IASB
Supported statements with reasons, examples and research
https://aaahq.org/Research/FASB-GARS

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