A company entered into a business combination and recognized goodwill in one of the reporting units acquired. After performing a qualitative evaluation, the company has decided that it needs to test goodwill for impairment. Identify the location in professional standards that indicates what comparison is made when performing the first step of the goodwill impairment test.

1. Which title of Professional Standards addresses this issue & will be helpful in understanding the documentation requirements for matters communicated with governance?

2. Enter the exact section and paragraph with helpful information.