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Module 3 Assignment 2 Goodwill Impairment

The requirements for assessing the valuation of goodwill subsequent to 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 followed by fair value reporting limit to its carrying amount. 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. Do not cite any textbooks as textbooks are not authoritative guidance with regards to accounting research.

By Sunday January 31, 2021 submit your responses directly to Blackboard. Present your response in Microsoft Word document form.

All written assignments and responses should follow APA rules for attributing sources.

Respond to the following:

Assignment Grading Criteria Maximum Points

1. Identify and cite the relevant topics, subtopics from the FASB

Accounting Standards Codification 20

1. Identify the specific factors discussed in the Codification 20

2. Beyond the assessment of qualitative factors, what other evidence

should be considered for the purpose of goodwill analysis? 20

1. Describe differences and similarities in the treatment of

goodwill impairment between the FASB and the IASB 20

Supported statements with reasons, examples and research 10

Wrote in a clear, concise formal and organized manner; demonstrated

ethical scholarship in accurate representation and attribution of sources,

displayed accurate spelling, grammar and punctuation 10

Total 125