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You have just been hired as the controller of a corporation. You have been asked to review the financials. As part of this process you

You have just been hired as the controller of a corporation. You have been asked to review the financials. As part of this process you notice that there is goodwill of $5,000,000 on the books based on the purchase of a company 3 years ago. No adjustments have been made in the last 3 years. You are concerned that the goodwill could be overstated.

Is the right-down of goodwill more significant for the publicly traded or private company and why?

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