IAS 36 impairment of assets describes the procedures that an entity applies to ensure that its assets are carried at no more than their recoverable amount. An asset is carried at more than its recoverable amount if its carrying amount exceeds the amount to be recovered by use or sale of the asset.
The asset is then described as impaired and an impairment loss is recognised. The standard also describes when an entity should reverse a loss and prescribes disclosures.
By the end of this learning module you will be able to:
- identify when an asset has become impaired
- define and measure an asset’s recoverable amount
- recognise and measure an impairment loss
- identify a cash-generating unit and allocate goodwill to it
- review notionally adjusted goodwill for impairment
- identify when and how an impairment loss should be reversed.
Course description provided by BPP.
Duration: 1 hour
Cost: £30 (exc VAT)