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Goodwill

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

NOTE 8 – GOODWILL

The changes in the carrying amount of goodwill for the year ended June 30, 2021 were as follows:

		For the year ended June 30, 2021
Balance as of July 1, 2020		$	2,118,700
Goodwill arising from acquisition of CareerWin (Note 3)			236,834
Goodwill disposed due to disposal of Infogain			(263	)
Foreign currency translation adjustment			89,679
Balance as of June 30, 2021		$	2,444,950

The Company has only one reporting unit. For the years ended June 30, 2021 and 2020, the Company performed a qualitative assessment of the goodwill for the reporting unit based on the requirements of ASC 350-20. The Company evaluated all relevant factors, weighed all factors in their entirety and concluded that it was not more-likely-than-not that the fair value of the reporting unit was less than its carrying amount. Therefore, further impairment testing on goodwill was unnecessary as of June 30, 2021 and 2020, respectively.

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- Definition

The entire disclosure for goodwill.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=2144439

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