Evaluating goodwill for impairment is imperative in the current environment. These four best practices will help you correctly assess, not just guess, matters related to goodwill impairment.
COVID-19 has triggered an economic downturn and put negative pressure on most companies’ financial performance. So whether you’re a public or a private company, you should plan to evaluate your goodwill for impairment. Clearly, it can be hard to determine impairment without an established benchmark that models the level of uncertainty and volatility COVID-19 has created. But you don’t have to guess – following these four best practices will provide the support you need to make your assessment.