Flash, Inc has two primary business reporting units Alfa and Beta In preparing its 2012 financial statements, Flash conducts an annual impairment review of goodwill Alfa has recorded goodwill of $35,000 that has an estimated fair value of $30,000 Beta has recorded goodwill of $65,000 that has an es...

Goodwill impairments are calculated at the business reporting unit level ...

Flash, Inc. has two primary business reporting units: Alfa and Beta. In preparing its 2012 financial statements,

Question:

Flash, Inc. has two primary business reporting units: Alfa and Beta. In preparing its 2012 financial statements, Flash conducts an annual impairment review of . Alfa has recorded of $35,000 that has an estimated fair value of $30,000. Beta has recorded of $65,000 that has an estimated fair value of $80,000. What amount of impairment loss, if any, must Flash report in its 2012 income statement? Where in the income statement should this appear?

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...