Defines impairment-goodwill and qualitative assessment

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Reference no: EM13866081

-Defines impairment, goodwill and qualitative assessment.

-Provide a journal entry to record impairment and an explanation of its impact on financial statements.

-Discuses the benefits of impairment recording to financial statement users.

-Discusses the qualitative assessment option and the factors entities should consider before performing a qualitative assessment.

-Discusses the motivation for using a qualitative test for impairment.

-Discusses how impairment testing will impact the firm and users of financial statements.

Reference no: EM13866081

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