Goodwill must be adjusted for impairment when its carrying amount exceeds its fair value. The two tests for impairment are the qualitative assessment and quantitative test. A non-cash impairment charge reduces the carrying amount of goodwill on the balance sheet but does not involve any cash outflow as it is a non-cash accounting adjustment.

1. UOP ACC 497 Week 4 Team Goodwill NEW
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ACC 497 Week 4 Team Goodwill NEW
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 no more than 700 words to
include the following:
• Provide detailed rational of why goodwill must be adjusted for
impairment.

2. • List the tests for impairment.
• Explain the meaning of a non cash impairment charge.
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