Goodwill

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**This event is a rebroadcast of the LIVE event which was originally held on January 28, 2010. David C. Dufendach, Paul Flignor and Scott Herlihy will return for a live audience Q&A session.**

The Global Financial meltdown had ushered in a flurry of goodwill impairment activity this year and some experts think this could get even worse in Q4. Most North American firms have opted to “take the pain” via a full impairment charges all at once while their European counterparts have decided to whittle it down via many smaller charges hoping for a market rebound. It’s believed that US companies are taking the one time hits mainly because of possibility of SEC enforcement action. In any event, it’s clear on both sides of the pond that with values declining and the cost of refinancing steadily rising, valuations is a tough business.

The Knowledge Group is putting together a panel of distinguished professionals and experts who will help examine the approaches including the good, the bad, & the ugly of each. Join this live webcast to gain a more comprehensive understanding of the issues surrounding goodwill impairment in these turbulent financial times.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 1.75 - 2.0
Important Note: Your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date or you will not be able to obtain CLE credit.
Advance Preparation: Print and review course materials
Course Code: 103993
Recording Fee: $299 (Please click here for details)
NASBA Sponsor Number: 109004

 

Featured Speaker for Goodwill and Intangible Asset Impairment CLE/CPE Rebroadcast


Proposed Agenda (click here to view more)
SEGMENT 1:


David C. Dufendach, CPA/ABV, ASA, Partner, Valuation Services,
Grant Thornton LLP

- ASC Topic 350 (formerly SFAS 142) calls for goodwill to be assigned to one or more reporting units,
  and tested for impairment at least annually; more frequent testing may be necessary if certain
  “triggering events” occur
- Goodwill is the final asset tested for impairment; it is done only after the carrying values of all other
  assets have first been properly adjusted
- Testing for impairment of goodwill is a two-step process
- The lessons of 2008 should be institutionalized:
    - Forecasts must be well-supported
    - Reporting unit valuations should employ best-practice methodologies
    - Valuation techniques should maximize the use of observable market inputs (in accordance with
      SFAS 157)
- For some companies, the worst may be over – those that recognized impairment losses in 2008
    may be positioned to support remaining goodwill

SEGMENT 2:


Joel Trotter, Partner,
Latham & Watkins LLP

- Why impairment issues matter now
- SEC disclosure issues
- Recommended steps to consider

SEGMENT 3:


Paul Flignor, Principal Economist,
DLA Piper

- Credit crisis has made this recession different from other downturns - lack of transactional data,
  etc.
- Income forecasts for intangible assets require recalibration, commonly referred to as 'grounding'
- Discount rate models require rethinking - traditional WACC formulas broke down
- Various methods to adjust discount rates for intangible assets need to be considered



Grant Thornton LLP
David C. Dufendach, CPA/ABV, ASA
Partner, Valuation Services
 will be available for Q&A session
  speaker bio »»

DLA Piper
Paul Flignor
Principal Economist
 will be available for Q&A session
speaker bio »»

Latham & Watkins LLP
Joel Trotter
Partner
speaker bio »»

Latham & Watkins LLP
Scott C. Herlihy
Partner
 will be available for Q&A session
speaker bio »»

Who Should Attend?

- Financial Executives
- Valuation Lawyers
- Consultants and Accountants in Financial Planning and Accounting
- Industry Experts and Analysts in Business Valuation

Why Attend?

This is a must attend event to anyone interested in having full understanding Goodwill Impairment.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Registration Information:                                                                                                                                    


Disclaimer:
Please note, the event date is firm although it may be subject to change. Please click here for details.

 

 

 

 


Goodwill and Intangible Asset Impairment CLE/CPE Rebroadcast
Speaker Firms:







 

The Knowledge Group, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org


 

We are an approved multi-event sponsor in the state of California. Our provider ID is: 14451. In Texas, Illinois, and Virginia, we submit programs for individual approval in advance. In all other states, once attendance is verified, participants are emailed an official certificate of attendance which they submit to their respective State Bar Associations. Our programs are created with continuing education in mind and are therefore designed to meet the requirements of all State Bar Associations. If you have any questions, please email our CLE coordinator at: info@knowledgecongress.org

Important Note: Your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date or you will not be able to obtain CLE credit.

Attention New York Attorneys:

This program is approved for CLE credit under New York’s Approved Jurisdiction policy. The Knowledge Group, LLC is an approved sponsor in the state of California, a New York Approved Jurisdiction. This program fulfills the non-traditional format requirement of exceeding 60 minutes in length. Please note only experienced attorneys (more than 2 years) are eligible to receive CLE credit via non-traditional format learning platforms. The Knowledge Group will verify attendance during the webcast via secret words (3 per credit hour) and by auditing attendees log in and log out records. All verification instructions will be provided during the webcast. Once attendance verification requirements have been completed, the attendee will be issued a certificate of attendance be The Knowledge Group for the course with the recommended number of credit hours. The Certificate of Attendance is normally sent via email in 24 hours or less.

To Claim Your CLE Credits:

The attorney should simply include credits earned via Knowledge Group webcasts when computing the total number of CLE credits completed, and keep the Knowledge Group Certificate of Attendance for a period of at least four (4) years in case of audit. An attorney may count towards her/his New York CLE requirement credit earned through the Approved Jurisdiction policy without notifying the CLE Board.

To learn more about New York’s Approved Jurisdiction policy. Please visit: http://www.nycourts.gov/attorneys/cle/approvedjurisdictions.shtml



 
Enrolled Agents Sponsor ID Number: 760

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