I need calculations done for goodwill impairment. The paper is complete; I will

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I need calculations done for goodwill impairment. The paper is complete; I will edit anything after the calculations are done. Below are comments from my professor. He is encouraging not to elect the accounting alternative and actually perform the goodwill impairment testing as the codification directs. The only source should be the FASB Codification. “Your goodwill impairment testing needs to compare the updated identifiable net assets amount (this would be the net assets carrying/book value per the balance sheet, but adjusted by the fixed asset and inventory impairments, which will give you a new carrying/book value for identifiable net assets) to the overall fair market value of the segment, i.e., the appraisal amount. And remember that the appraisal amounts would presumably include goodwill, if any. Which is why you need to add the respective goodwill amount to the updated net assets figure before comparing to the overall fair market value. This is what I found in the FASB codification (350-20-35-73, but also 350-20-35-4 thru 350-20-35-8): “A goodwill impairment loss, if any, shall be measured as the amount by which the carrying amount of an entity (or a reporting unit) including goodwill exceeds its fair value. A goodwill impairment loss shall not exceed the entity’s (or the reporting unit’s) carrying amount of goodwill.” In the FASB language above, the carrying amount is the updated carrying value you calculate after getting the fixed asset and inventory impairment losses (you have everything you need to get these numbers). Then you would add the goodwill (these numbers are provided/ included in the task) to it (since the above says to include goodwill). Now, compare them and complete the goodwill impairment testing. In the above, the fair value is the appraisal amount provided in the task scenario.”

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