Overview:
Accounting for asset impairments and intangibles can be a minefield even for the seasoned professional. Accountants and auditors need a clear understanding of how to determine whether assets have become impaired and, if so, by how much. This seminar will enable you to:
- Understand the latest financial accounting issues surrounding intangibles and asset impairments
- Deal with practical issues in determining fair values and using cash flows for impairment evaluation
- Evaluate and follow the new requirements for goodwill impairment testing
Objective:
To provide accountants with a comprehensive knowledge of accounting principles concerning impairments of assets, intangibles, capitalization and goodwill. You’ll learn the latest thinking regarding capitalizable assets, impairment, depreciation and amortization, deferred taxes and special issues associated with intangibles.
Emphasis:
- Testing impairment to goodwill and other intangibles with an indefinite life, including recent guidance and proposals
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Intangible assets
– Characteristics
– Separating goodwill from other intangibles
– Intangibles with an indefinite life
– Determining fair value - FASB Concepts Statement 7: Using Cash Flow Information and Present Value in Accounting Measurements
- Triggers and calculations of impairment
- Capitalization, depreciation and amortization
- Discontinued operations and Assets Held for Sale
- Deferred taxes associated with depreciation and impairment
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Related issues
– Leases
– Asset retirement obligations
– Nonmonetary transactions
– Going concern and liquidation basis
– Impact of FASB guidance on consolidations and intangibles
