Study On Goodwill Impairment Of Wanda Film’s High Premium Merger And Acquisition

With the development of China’s economy,enterprises continue to expand their industries through mergers and acquisitions,leading to the frequent emergence of high-premium mergers and acquisitions in the capital market,and the total goodwill in the A-share market keeps rising.However,in early 2019,the collective "thunder" event of goodwill occurred in the capital market,which caused A serious impact on the A-share market.In the event of "mine explosion" of goodwill,film and television culture industry companies account for a high proportion.Therefore,at the present stage,it is necessary to attach great importance to the huge goodwill and impairment of film and television culture enterprises,study the formation of such companies’ high goodwill and the internal and external factors and internal motivation of impairment,based on which,countermeasures and opinions are formulated,in order to better prevent and reduce the occurrence of such problems.Under such a macro background,this paper chooses Wanda Film,a leading enterprise of film and television culture companies,as the specific research object,which has set aside a huge amount of goodwill in 2019 and 2020 respectively.Firstly,this paper takes the merger and acquisition process of Wanda Film as the main analysis idea,and makes a detailed analysis of the detailed process of high premium merger and acquisition through the collection and sorting of specific data.Secondly,in the process of combing,it is found that the following factors together lead to the formation of the high premium: improper enterprise value evaluation method leads to the high premium of M&A;The signing of the betting agreement causes the management to be overconfident about the performance of the acquired enterprise.The following problems exist in the process of goodwill impairment: first,the performance changed due to the COVID-19 epidemic;Second,the failure of the betting agreement leads to goodwill impairment;Third,the management of "financial bath";Fourth,the recognition of goodwill impairment is not timely.Then,this paper evaluates the negative impact of goodwill impairment on the company through financial performance analysis and economic added value analysis.Finally,this paper gives corresponding countermeasures to the risk of goodwill impairment: carefully assess the value of the target enterprise and reasonably recognize goodwill;Optimize the accounting treatment of the subsequent measurement of goodwill and reduce the space of earnings management;Relevant regulatory authorities need to strengthen supervision and punishment for violations.It is hoped that such measures can promote the long-term and stable development of film and television culture industry.