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This course provides an overview of goodwill impairment testing. The accounting and reporting requirements related to goodwill are prescribed by ASC Topic 350-20. This course 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.

Course Series

This course is included in the following series:

8 CoursesGAAP Hot Topics - What You Need to Know

  1. GAAP Hot Topics - What You Need to Know Chapter 1: Accounting for Business Combinations (Text Based Course)
  2. GAAP Hot Topics - What You Need to Know Chapter 2: Revenue Recognition (Text Based Course)
  3. GAAP Hot Topics - What You Need to Know Chapter 3: Lease Transactions (Text Based Course)
  4. GAAP Hot Topics - What You Need to Know Chapter 4: Goodwill Impairment (Text Based Course)
  5. GAAP Hot Topics - What You Need to Know Chapter 5: Segment Reporting (Text Based Course)
  6. GAAP Hot Topics - What You Need to Know Chapter 6: Accounting for Software (Text Based Course)
  7. GAAP Hot Topics - What You Need to Know Chapter 7: Accounting Changes & Error Corrections (Text Based Course)
  8. GAAP Hot Topics - What You Need to Know Chapter 8: Non-GAAP Financial Measures (Text Based Course)

Learning Objectives

  • Identify the recognition requirements related to goodwill.
  • Recognize overall characteristics of goodwill impairment testing.
  • Discover and differentiate between the qualitative and quantitative test of goodwill impairment.
  • Identify key characteristics of the accounting alternative for goodwill.
  • Explore and list the key disclosure requirements for goodwill and goodwill impairment losses.
Last updated/reviewed: May 14, 2022

1 Review (10 ratings)Reviews

4
Anonymous Author
This is a good overview for Goodwill, it is applicable for both public & private companies.

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
COURSE MATERIAL
  PDFGAAP Hot Topics - What You Need to Know Chapter 4: Goodwill Impairment
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM