Goodwill Impairment
The requirements for assessing the valuation of goodwill subsequent to the 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 students 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 in 5­pages. Do not cite any textbooks, as
textbooks are not authoritative guidance with regard to accounting research.
Present your response in Microsoft Word document form. All written assignments and
responses should follow APA rules for attributing sources. Write in a clear, concise formal,
and organized manner, demonstrate ethical scholarship in accurate representation and
attribution of sources, and display accurate spelling, grammar, and punctuation.
FASB Codification Website: Use Google to Access the Website
Website : https://aaahq.org/Research/FASB-GARS
Username: aaa65189
Password: KV7Ax4w
Respond to the following: (Questions are highlighted in Blue)
Assignment Grading Criteria
Maximum Points
1) Identify and cite the relevant topics and 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
Total
20
20
20
20
20
100

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