Goodwill and Impairment
Increased market volatility and changing consumer habits may negatively affect an entity's financial condition and results, and can cause asset impairments.
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In this publication, we focus on the application of the impairment guidance for goodwill, with a focus on private companies, addressing the following topics:
Order of Impairment Tests
Long-Lived Assets with Finite Lives
Goodwill
Unit of Account
Private Company Accounting Electives — Subsequent Measurement of Goodwill
Triggering Events
Evaluating Triggering Events — Private Company Alternative
Goodwill Impairment Assessment
Step 1 Quantitative Test (Fair Value)
Step 2 Quantitative Test (Implied Fair Value)