we can now take a look at the basic steps involved in a goodwill impairment test. The basic procedure governing goodwill impairment tests is set out in the Accounting Standards Codification (ASC ...

Historically, many organizations have conducted goodwill and indefinite-lived intangible asset impairment testing by collaborating with valuation professionals and other advisers to measure fair value ...

Unfortunately, the FASB guidance does not allow for hindsight in performing the goodwill impairment analysis; the test is a point-in-time fair value assessment as of the date of the triggering event.

As businesses assess the impact of COVID-19 on their financial statements, here are five questions around goodwill and long-lived asset impairment testing to consider: 1) Are the adverse market ...

In Accounting Standards Update No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, the Financial Accounting Standards Board eliminated Step 2 of ...

The CFA Institute surveyed its members in December 2021 to determine what investors felt about convergence between IASB and FASB methods related to goodwill impairment accounting and testing.

Goodwill impairment is an accounting term used to describe a reduction in the value of goodwill on a company’s balance sheet. Goodwill itself represents the excess amount a company has paid over ...

Sinch regularly assesses goodwill and has conducted an impairment test when finalizing results for the third quarter. The impairment test has resulted in a total impairment charge of SEK 5,000 ...

Due to the current economic slowdown and bear market, every company will need to pay greater attention to its annual goodwill impairment test. How is goodwill accounted for? In the accounting ...

Interestingly, this process also works the other way around, where stock price declines can trigger the need for an impairment test of goodwill. This is mainly because in goodwill testing for ...

"The impairment test determined that the fair value of the ... "As a result, in the fourth quarter of 2023, Verizon recorded a non-cash goodwill impairment charge of approximately $5.8 billion ...