Original air date:
Sept. 18, 2013
During this third course of the Mayer Hoffman McCann IFRS Update Series, we'll help you identify potential issues related to identifying, measuring and reversing the impairment of assets (including goodwill). Impairment indicators are often not properly considered, resulting in assets that are over-valued relative to their recoverable amount. Assets such as goodwill or an intangible asset with indefinite useful life must be tested for impairment on an annual basis — regardless of whether impairment indicators exist.
We will also cover key terms that are used in IFRS impairment testing such as recoverable amount, fair value less costs to sell, value in use, cash generating units and more.
Application of IAS 36
Identifying when an asset may be impaired
The process for determining an impairment loss
Calculating the new book value of an impaired asset
Identifying the Cash Generating Unit (CGU)
Procedures required for reversing a previously recognized impairment loss
Comparison of IFRS vs. U.S. GAAP