Long-lived assets may be either finite or indefinite lived, tangible or intangible in nature. The carrying value of these long-lived assets should be evaluated at each measurement date to determine whether there is an impairment loss necessary due to declines in an asset's fair value. This asset audit CPE course will describe the tips and techniques for determining whether an impairment loss risk exists, and how to calculate, record and disclose any such loss.
Learning Objectives
Upon completion of this course, participants will be able to:
Identify typical assets subject to impairment, including finite and indefinite lived assets
Recall indicators of impairment and recoverability testing for both tangible and intangible long-lived assets
Explain goodwill accounting and auditing risks
