Accounting for Goodwill Impairment & Deferred Tax Considerations Self-Study Webinar (2 Hours)

Overview: 

Amendments to FASB’s Accounting Standards Update (ASU) 2017-04: Intangibles—Goodwill and Other (Topic 350)—Simplifying the Test for Goodwill Impairment reduce the cost and complexity of evaluating goodwill for impairment, while aligning with IFRS. This program reviews the new goodwill impairment testing procedures, including:

  • Fair value measurement and changes to the disclosure requirements for fair value measurement
  • Goodwill impairment and deferred tax considerations
  • Fair value and goodwill SEC comment letters
  • Private company and not-for-profit intangible and goodwill accounting alternatives
Objective: 

To update financial professionals on the accounting and disclosure rules associated with goodwill impairment testing and deferred tax considerations.

Emphasis: 
  • ASU 2018-13: Changes to the Disclosure Requirements for Fair Value Measurement
  • ASU 2017-04 (Topic 350): Simplifying the Test for Goodwill Impairment
    – Replaces implied fair value of goodwill calculation with impairment charge based on excess reporting of units over fair value on excess of reporting units carrying amount over fair value
  • Goodwill disclosures required by the SEC
  • ASU 2014-02 (Topic 350) Accounting for Goodwill
    – An alternative for private and not-for-profit companies to account for goodwill subsequent to initial recognition
  • ASU 2014-18 Business Combinations (Topic 805) Accounting for Identifiable Intangible Assets in a Business Combination
    – Allows private companies to exclude certain intangible assets from separate recognition in a business combination
  • Recent SEC fair value and goodwill comment letters

Identify key price assumptions used to determine fair value

Recognize the rules for assigning liabilities to a reporting unit

Identify the primary changes to goodwill impairment testing contained within ASU 2017-04

Identify the current mandatory timing of goodwill impairment testing by public companies

Recognize the current mandatory amortization period for goodwill and other intangible assets under federal tax law

Identify the course developer’s recommendations regarding goodwill and goodwill impairment testing

Identify the default amortization period for goodwill available to electing private companies and NFPs
 

Bottom
Price: 
$99.00
Prerequisite: 

None.

Preparation: 

None.

Level of Knowledge: 

Intermediate.

CPE Credit: 
2.00
NASBA Field of Study: 
Accounting