Learning Team: Goodwill

Discuss with your team the following case study:

Client X contacted you for clarification and recommendations regarding the instances when goodwill should be adjusted for impairment.

Write a team consensus response of 525 to 700 words to include the following:

Provide detailed rational of why goodwill must be adjusted for impairment.

List the tests for impairment.

Explain the meaning of a non cash impairment charge.