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The summary for SFAS 142 notes that "intangible assets are an increasingly important economic resources for many entities" - an importance that has only grown since the statement's authorship in June, 2001. As the global economy continues its turbulence, the valuation of goodwill and other intangible assets has become increasingly important, placing more of a burden on appraisers to understand both SFAS 142 and 144 - the statement on accounting for the impairment or disposal of long-lived assets. In "Goodwill Impairment in a Troubled Economy," valuation experts Ed Morris, Jim Alerding, and Brian Steen cover the hands-on, must-know issues relating to recognizing, testing, and accounting for goodwill impairment. For all valuation practitioners, this presentation is an imperative preparation for the coming wave of impairment-related valuation issues. Indeed, Ed Morris notes "we've seen some increase in goodwill impairment for the 2008 financial statements, but we think that's going to continue - and if nothing else accelerate - in 2009, and get into some of the trickier issues where it's not as black and white as it has been."
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