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 self-study webinar 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.

Detailed Learning Objectives
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: 

No advance preparation required.

Level of Knowledge: 

Intermediate.

CPE Credit: 
2.00
NASBA Field of Study: 
Accounting