Impairment of Goodwill


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My client has goodwill in its books as at year end which arose from business combination. my understanding is to carry out a subsequent review by performing impairment test on the goodwill. what are the information i need to enable me carry out this task, how do i go about getting the information and how do i calculate the impairment test on the goodwill.

I Iook forward to your prompt response.

Thanks so much
 
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Steve-LevelUp

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I have never done this myself, but you would generally ask management and take their advice (and get it in writing). You would want to ask things like, has there been a significant shift in the market? Have revenues related to the goodwill declined sharply? Is there any reason for management to believe that goodwill would be impaired?
 
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