Course description
Essentials - A Focus on IAS 36 Impairment of Assets (Virtual Classroom)
This online IFRS training is being delivered live in a single 4 hour session which runs from 13:00 – 17:00 London (UK).
This focus session deals with key considerations when applying IAS 36 Impairment of Assets. The Standard applies widely, both to non-financial assets such as property, plant and equipment, goodwill, intangible and right-of-use assets and to financial assets such as interests in associates and joint ventures. IAS 36 is complex to apply and involves significant judgements and estimates. Its valuation model requires the calculation of an asset’s (or cash-generating unit’s) recoverable amount: this may involve calculating both value in use by estimating future cash flows and determining a suitable discount rate and fair value using a valuation technique under IFRS 13 Fair Value Measurement.
The impact of the Covid-19 pandemic was to increase the frequency of impairment testing and the complexity of its application. Subsequently political and economic factors have also increased the risk of asset impairment. Heightened uncertainty affects estimates of cash flows and discount rates and could also change which method of determining value in use is appropriate.
The session also enables participants to raise and discuss specific issues that they have identified or anticipate when applying IAS 36 in practice.
Upcoming start dates
Suitability - Who should attend?
This training course is especially suitable for:
- Accountants in finance and reporting teams that prepare IFRS financial statements
- External and internal auditors
- Financial and credit analysts seeking to improve their understanding of IFRS financial statements
- Accounting regulators and enforcement bodies
Outcome / Qualification etc.
After attending this course you will be able to:
- Identify when impairment tests are required
- Measure the recoverable amount of an asset or a cash-generating unit
- Reflect impairment losses (and reversals of past losses) in the financial statements
- Draft relevant disclosures
CPE credits are available for all courses.
Training Course Content
This course is designed to cover the following key topics:
- Scope
- Identifying indicators of impairment
- Frequency of testing
- Measuring recoverable amount
- Value in use – estimating cash flows and establishing discount rates: traditional and expected value approaches
- Fair value less costs of disposal
- Impairment of goodwill
- Cash-generating units
- Recognising losses
- Subsequent reversals
- Disclosure
Why choose IASeminars
We've been training for 20 years.
50% of our business comes from returning clients.
We offer instructor-led training in international locations, over Zoom or in house.
Reviews
Average rating 4.3
Very professional and useful.
Overall I find IASeminars provides very good instruction
Expenses
The cost of this training course is £395 + VAT.
In-House Training
In addition to the scheduled dates and locations, IASeminars can also run this course as in-house training, to meet the specific requirements of your team. Contact them here to request a customised training solution for your team.
As usual, Bill Kemp knew the subject very well and answered every participants' questions during the course.