Impairment of Goodwill, Intangibles & Other Long-Lived Assets Self-Study Webinar (1.5 Hours)

Overview: 

Accounting for asset impairments and intangibles can be a minefield. This session will focus on the accounting principles concerning impairments of assets, intangibles, capitalization, and goodwill, and will also discuss:

  • Impairment testing (ASC 360-10)
  • Long-lived assets
  • Finite-lived intangible assets
  • Indefinite-lived intangible assets
  • The impact of COVID-19
Objective: 

To provide accountants with a thorough overview of the most important issues governing the current use of impairment testing as well as the general guidelines established through ASC 360.

Detailed Learning Objectives
Emphasis: 
  • Order of Impairment Testing
  • Testing for Recoverability
  • Identification of Asset Groups
  • Qualitative Assessment
  • Quantitative Assessment
  • Goodwill
  • Reporting Units
  • Allocating Assets
  • Determining FV of Reporting Units
  • Private Company Alternatives
  • Financial Reporting Considerations Related to COVID-19

• Identify circumstances in which impairments can be reversed

• Recognize what group of assets requires the fair value of the reporting unit to be compared to the carrying amount under impairment accounting

• Identify the unit of account for goodwill testing purposes

• Recognize the characteristics of a reporting unit

• Identify characteristics of approaches used to assign the reporting unit carrying amount

• Recognize the provisions in ASU 2017-04

• Identify the steps in the impairment test of long-lived assets

• Recognize the requirements of impairment disclosures

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Price: 
$69.00
Prerequisite: 

Basic knowledge of accounting and reporting.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Intermediate.

CPE Credit: 
1.50
NASBA Field of Study: 
Accounting