Auditing Impairment of Long-Lived Assets, Including Goodwill – Identifying and Calculating Impairment Losses

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Auditing Impairment of Long-Lived Assets, Including Goodwill – Identifying and Calculating Impairment Losses

Learning Objectives

To describe typical assets subject to impairment, including finite and indefinite-lived assets.
To identify indicators of impairment and recoverability testing for both tangible and intangible long-lived assets.
To explain goodwill accounting and auditing risks.
To discuss cash flow sensitivity analysis and consider different methods of cash flow.
To analyze the measurement of impairment loss.

Course Description

Impairment of Assets seeks to ensure that an entity's assets are not carried at more than their recoverable amount (i.e. the higher fair value fewer costs of disposal and value in use).

Except for goodwill and certain intangible assets for which an annual impairment test is required, entities are required to conduct impairment tests where there is an indication of impairment of an asset, and the test may be conducted for a 'cash-generating unit' where an asset does not generate cash inflows that are largely independent of those from other assets.

Long-lived assets may be finite or indefinite-lived, tangible or intangible. 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.

Major topics covered in this CPE Auditing Webinar are:

Indicators of impairment
Steps in recoverability testing for long-lived assets held and used
Grouping assets held and used
Allocating impairment loss and disclosures
Testing indefinite-lived intangibles for impairment, including goodwill
Valuation techniques for determining a reporting unit’s fair value

This CPE webinar will describe the tips and techniques for determining whether an impairment loss risk exists, and how to calculate, record, and disclose any such loss.

Here is the link to your interests: CPE Courses for Certified Internal Auditors.

Webinar Qualifies For

2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
2 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
2 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
2 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
2 CPE Credit of Auditing for Certified Management Accountants (CMA)
2 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)
2 CPD Credit of Auditing for Certified Financial Forensics (CFF)
2 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
2 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
2 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
2 CPE Credit of Auditing for Certified Internal Controls Auditor (CICA)
2 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
2 CPE Credit of Auditing for Iowa Licensed Public Accountant (IA-LPA)
2 CPE Credit of Auditing for Maine Licensed Public Accountant (ME-LPA)
2 CPE Credit of Auditing for Delaware Licensed Public Accountant (DE-LPA)
2 CPE Credit of Auditing for Certified Controls Specialist (CCS)

About Instructor

Jennifer Louis, CPA (US)

President, Emergent Solutions Group LLC

Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

Click Here to View

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Ratings and Review

4.4

Excellent

Very Good

Average

Poor

Terrible

Jeffrey Ebelhar, CPA (US)

Great presenter, very knowledgeable. She keep my attention and made it very interesting and practical. The slides made a complex subject easy to follow and understand.

Michael Magee, CPA (US)

I think Jennifer’s courses are among the best that MY CPE has. The brain breaks are corny, but they definitely add to the presentations!

Kandeh Sesay, CIA

The presentation and questions broadened my understanding of Impairment

Arthur Kulback, CPA (US)

WAS SUPERB. INSTRUCTOR SPOKE WITH AN ENGLISH I UNDERSTOOD.

Alisa Darrow, CIA, IAP

Very helpful overview of how impairment testing works.

2 Credits

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Subject Area

Auditing

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Auditing Impairment of Long-Lived Assets, Including Goodwill – Identifying and Calculating Impairment Losses

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Jennifer Louis, CPA (US)

Other Details

Additional Information

2 Hours

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.4

Jeffrey Ebelhar, CPA (US)

Michael Magee, CPA (US)

Kandeh Sesay, CIA

Arthur Kulback, CPA (US)

Alisa Darrow, CIA, IAP

Subject Area

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