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What is the goodwill impairment loss

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Question - On December 31, an entity tested its goodwill for impairment and determined the following for one of its cash-generating units:

Carrying value $1,015,000

Fair value less costs to sell 955,000

The entity also determined that the present value of the future cash flows expected from the cash generating unit is $940,000. The cash generating unit reports goodwill of $130,000. What is the goodwill impairment loss that will be reported on the December 31 income statement under IFRS?

Reference no: EM132745321

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