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.

FASB proposed an amendment to the goodwill impairment test. Under current GAAP, the test’s Step 2 includes determining the implied fair value of goodwill and comparing it with the carrying amount of ...

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 ...

Early this year, the Financial Accounting Standards Board (FASB) eliminated Step 2 of the goodwill impairment test in an effort to simplify the process for financial reporting units. The change ...

Intangibles – Goodwill and Other (Topics 350): Testing Goodwill for Impairment, establishes a new step in front of those two existing steps. It allows companies to make a qualitative assessment to ...

The scenario is forcing companies to devote more time and resources to determining when to perform their impairment tests and, if necessary, record a charge for goodwill.

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 ...