Scope sheet
finbryn.com
Technical accounting
Goodwill and long-lived asset impairment testing under ASC 350, ASC 360 and IAS 36
Finbryn provides goodwill and long-lived asset impairment testing support under ASC 350, ASC 360 and IAS 36: triggering event write-ups, carrying amounts, forecast-based models and draft disclosures for management. Checked 2026-10-16: ASU 2021-03 lets private companies evaluate goodwill triggering events as of each reporting date.
What is included
- Reporting unit and asset group map with carrying amounts
- Triggering event assessment written up as of the test date
- Forecast-based fair value model built on management's inputs
- Sensitivity table on discount rate and growth
- Draft impairment footnote and journal entries
The process
- 1.
Map reporting units and asset groups
List where goodwill and long-lived assets sit, with carrying amounts tied to the trial balance.
- 2.
Assess triggering events
A dated memo against the ASC 350-20-35-3C examples and the ASC 360 indicators.
- 3.
Choose the test path
Qualitative or quantitative under US GAAP, or the private company alternative; recoverable amount under IAS 36.
- 4.
Build and back-test the model
Forecast, discount rate, terminal value and sensitivities, with last year's forecast compared to actual.
- 5.
Draft memo, entries and footnote
Conclusion, journal entries and disclosure text for management to adopt.
Software
Microsoft Excel, QuickBooks Online, NetSuite
Finbryn is a brand of Northlane Solutions Inc., a Delaware corporation.
Reviewed October 2026