ASC 350 Goodwill Valuation in Chicago

Intangible Asset Impairment Testing

As with anything in business, there are always rules, requirements, and regulations which you must follow. This is especially true when it comes to financial transactions. Goodwill and other intangible assets are typically analyzed annually for impairment, in accordance with ASC 350. There are certain procedures which are set, and rules that must be complied with. You may need the assistance from an experienced business valuation expert in Chicago, and throughout the U.S., to guide you through this complex valuation process.

Call Gibraltar Business Valuations at (312) 883-8850 for more information from our Chicago professionals. For assistance in Utah, call (801) 466-5410, or (520) 512-5410.

Is Impairment Testing Required?

Our team of professionals at Gibraltar Business Valuations can assist you in understanding the way that impairment testing works and ensure that you are in full compliance. In some cases, you will only be required to undergo brief analysis, known as a qualitative assessment, once a year; however, there are some cases where you may need to have your assets tested more frequently.

There are a few case where your intangible assets may be required to undergo testing:

  • The loss of key personnel in your company
  • Unanticipated competition for your business
  • An adverse assessment or action by a regulator
  • A significant change in the business climate

Treatment of Goodwill & Intangibles

There are many different factors involved in impairment testing, all of which can be handled by our professional, experienced team at Gibraltar Business Valuations. With more than 20 years of experience and insight under our belts, you can rely on us to meet your varying needs when it comes to goodwill valuation and intangible asset impairment testing.

With three offices around the country, in Illinois and Utah, we hope to offer you the convenience and comfort of working with a well-established, respected company. We are known for our expansive knowledge in the field and have earned the respect of our colleagues in the industry. Most importantly, Gibraltar Business Valuations has built lasting relationships with our clients.

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