how often must companies test for goodwill impairment in the united states 
in the u s generally accepted accounting principles gaap require companies to review their goodwill for impairment at least once a year at a reporting unit level catalysts for goodwill impairment include increased competition economic deterioration loss of key personnel and regulatory action the bottom linegoodwill impairment is an accounting charge incurred when the fair value of goodwill drops below the previously recorded value from the time of an acquisition goodwill in accounting is recorded after a company acquires assets and liabilities and pays a price in excess of their identifiable net value 