About the course
This course focuses on the accounting guidance related to the impairment of property, plant and equipment and intangible assets, excluding goodwill. This course covers the requirements for identifying asset groups, testing for impairment, and presentation and disclosure matters relating to long-lived and intangible assets as set out in ASC 360 Property, Plant & Equipment and ASC 350 Intangibles – Goodwill and Other, respectively. It is very important to be familiar with the requirements around testing long-lived assets and intangible assets for impairment, because a significant amount of estimation and judgment is required.
By the end of this course, participants should be able to:
- determine the asset group, or the unit of account for a long-lived asset to be held and used, in accordance with ASC 360
- determine if a triggering event or indicator of impairment exists within the scope of ASC 360
- determine if the carrying amount of the asset or asset group is recoverable in accordance with Step 1 of the impairment test
- calculate future net cash flows used to test recoverability
- determine whether an asset is impaired in accordance with Step 2 of the impairment test
- calculate the impairment loss allocated to individual assets within an asset group.
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.