Impairment Insight: Value in Use and Fair Value in the COVID-19 era
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Virtual classrooms take the interactive elements of a face to face workshop and superimpose these into an online experience. Virtual classrooms use engaging, scenario-based learning methods that include peer to peer learning and one on one engagement with expert facilitators. You will ‘learn by doing’ via interactive activities and practical case studies in an intimate and hands-on learning environment.
Regulators continue to identify impairment testing as one of their principal focus areas and accordingly CFO’s and auditors are under increasing pressure from directors and regulators to ensure the accounts are prepared correctly and they can support the carrying value of goodwill and other assets across the business
Benefit from Kevin Frohbus’s insights into the accounting standards and Simon Dalgarno’s valuation expertise in these virtual classrooms as they examine IAS 36 and IFRS 13 in detail and provide you with examples and practical advice on how to prepare for year-end reporting.
This 4-part intensive online course on Impairment of Assets (IAS 36) and Fair Value Measurement (IFRS 13) will begin with the theory and a brief introduction before delving into the details of each standard, the differences and the interconnection between them.
Complying with these standards requires a reliable business process that incorporates information about how the assets came to be recognised initially, the assumptions about their ongoing use and value, and an approach to navigate the complex mix of valuation methodologies and accounting principles that are often contradictory and sometimes inconsistent.
This 4-part intensive online course is aimed at those senior finance leaders and audit practitioners who are involved in preparing or reviewing impairment calculations based on using value in use and fair value methodologies.
The virtual classrooms will provide participants with a comprehensive and detailed understanding of the two approaches to undertaking impairment testing and applying the requirements of the standards.
Specifically, the additional considerations that will be introduced into the impairment process from 2019 as a result of the new leasing standard, IFRS 16 Leases, will be outlined and considered throughout the day.
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.
- Apply the fundamentals of IAS 36 Impairment of Assets and IFRS 13 Fair Value Measurement
- Identify the indicators of impairment
- Explain the difference between fair value and value in use and the impact this has on the valuation model for impairment
- Identify the most common errors made when working with these standards
- Develop a framework to prepare for your year-end financial statements
- Explain the components of a good valuation model
- Describe the components of a discount rate
- Examine the models for common errorsInterpret the valuation result and explain how to translate it to compare to goodwill and other assets in the business unit
- Prepare answers for some questions your auditor might ask
- Articulate the approach to communicating information about the impairment assessment to investors in the financial statements.
- Develop a strategy on how to manage expectations of Boards and CEOs.
Kevin Frohbus, 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
Sub-Topic: Business Reporting, Business Valuation, Financial Reporting, Financial Statement Audit, Internal Audit, Risk Management
Proficiency Level: Intermediate
CPD: Upto 6.5 hours