Impairment Fundamentals Series
This webinar series will provide you with the fundamental concepts of impairment, value in use and fair value, including practical hints and tips when applying these concepts.
Regulators continue to identify impairment testing as one of their principal focus areas. Accordingly, CFO’s and auditors are under increasing pressure from directors and regulators to ensure the accounts are prepared correctly and that they can support the carrying value of goodwill.
The first session of the three-part webinar series commences with an introduction to the accounting standard requirements contained in Impairment of Assets (IAS 36) and Fair Value Measurement (IFRS 13) as well as the differences and the interconnection between them. The second session will provide you with an introduction to the general valuation theory which is required to work with these standards in practice. While the final session will bring the accounting and valuation theory together.
Whether you are preparing impairment calculations and the financial statements or auditing them, complying with these standards requires a complex mix of applying valuation methodologies and understanding the requirements of the standards.
Benefit from Kevin Frohbus’s insights into the accounting standards and Simon Dalgarno’s valuation expertise in this workshop as they examine these standards from both an accounting and valuation perspective as you prepare for year-end reporting.Learning Outcomes
Upon satisfactory completion of this webinar you will be able to:
- Explain the fundamentals of IAS 36 Impairment of Assets and IFRS 13 Fair Value Measurement.
- Explain the difference between fair value and value in use.
- Describe the differences and the interconnection between the two standards.
- Identify the indicators of impairment.
- Explain the fundamental valuations concepts.
- Summarise the different valuation methods and when they are appropriate.
- Describe the most common valuation methods.
- Summarise the components of a good valuation model.
- Identify the components of a discount rate.
- Explain the difference between fair value and value in use and the impact this has on the valuation model.
- Interpret the valuation result and describe how to translate the result to compare it to goodwill.
- Describe the most common errors made when working with these standards.
Part 1: Impairment Fundamentals
Part 2: Valuation theory
Part 3: Interaction of accounting standards and valuation theory
This three part webinar series on Impairment of Assets (IAS 36) and Fair Value Measurement (IFRS 13) is essential for those who may not be familiar with the standards or need to refresh the fundamentals. Participants will benefit from the expertise of two highly experienced presenters, who will share their key insights, tips and things to look out for when performing the impairment and valuation analysis. It will also help participants be more aware of the accounting reporting requirements in the financial statement or audit process.
Simon Dalgarno FCA, has worked in the financial valuation industry for almost twenty years and is a CA BV Specialist and a Fellow of the Financial Services Institute of Australasia. Since joining the Leadenhall consulting practice in 1998 he has specialised in the valuation of businesses and intellectual property. Simon has extensive experience in the valuation of businesses and intangible assets.
Kevin Frohbus CA, is an IFRS advisory specialist with over 20 years’ experience. Kevin was at the forefront of the adoption of IFRS in the early 2000’s and has served as partner and technical director at two large, multi-national audit and advisory firms for over 13 years before joining BDO’s IFRS Advisory team in 2017.
Topic: Audit & Assurance, Corporate Finance, Reporting
Sub-Topic: Business Reporting, Business Valuation, Financial Reporting, Financial Statement Audit, Internal Audit
Format: Recorded Webinar
Proficiency Level: Foundation, Intermediate
CPD: 3 hours