IFRS Masterclass: IAS 36 Impairment of assets

IFRS Masterclass: IAS 36 Impairment of assets (Cancelled)

Although an established standard, impairment remains an area which can result in errors in financial reporting and is a focus of regulators.

This seminar takes a detailed look at the performance of impairment testing, including identifying cash-generating units, common pitfalls in estimating future cash flows and a close examination of the importance of the assumptions used in impairment models.

Learning objectives 

This masterclass aims to provide participants with a deeper understanding of the application of the asset impairment model in IFRS. This is critical for identifying when it is required to test for impairment, how to perform the test and what additional considerations might apply to the test results.

Presented in an interactive environment with an expert speaker, preparer and auditor participants will have the opportunity to increase their knowledge of the impairment model, discuss common practical challenges in applying the model and increase their awareness of the views of regulators.

Course Content 

• Identifying assets that might be impaired – An overview of the types of impairment trigger which might occur, and additional requirements in the standard for intangible assets and goodwill
• Identifying cash-generating units – Identifying CGUs to which asset belong with practical illustrations provided, and additional considerations for corporate assets and goodwill
• Types of impairment test – The difference between “Value in use” and “Fair value less costs of disposal”, including sources of information and discount rates
• Working with cash flows – A practical, interactive illustration of the importance of underlying assumptions when preparing cash flow analyses
• Reversals of impairment – An overview of when reversals might be required and how to account for these.
• Disclosure requirements – An area of focus by regulators, we look at the requirements of the standard and practical considerations.

Who should attend

• Accountants/ auditors with existing knowledge of IFRS