Limited access to cash flow projections of the investee may also present challenges for impairment testing at the investment level. Loans and investments. IFRS 9: a guide for lessors. Unless it is tested on a standalone basis, an ROU asset is tested in combination with … To our clients and other friends ASC 360-10, Impairment and Disposal of Long-Lived Assets (ASC 360), provides accounting guidance for EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. [IAS 36.2, 4] Goodwill is being tested for impairment in the annual mandatory impairment testing, without there being an indication of impairment in the underlying CGUs. On the one hand, IFRS 9 eliminates impairment assessment requirements for investments in equity instruments because, as indicated above, they now can only be measured at FVPL or In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. 1. A comprehensive guide Impairment or disposal of long-lived assets Revised February 2019 . In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. You may withdraw your consent to cookies at any time once you have entered the website through a link in the privacy policy, which you can find at the bottom of each page on the website. This publication addresses considerations related to adopting and performing a qualitative assessment of goodwill impairment in accordance with FASB ASU 2011-08, “Testing Goodwill for Impairment.” Key topics discussed include: Download PDF February 2020. © 2020 EYGM Limited. California: Privacy | Do Not Sell My Personal Information. Management should take care to ensure that all requirements are understood and appropriately applied Impairment tests should be conducted by comparing ‘apples with apples’, i.e. As data personalizes medtech, how will you serve tomorrow’s consumer? remember settings), Performance cookies to measure the website's performance and improve your experience, Advertising/Targeting cookies, which are set by third parties with whom we execute advertising campaigns and allow us to provide you with advertisements relevant to you,  Social media cookies, which allow you to share the content on this website on social media like Facebook and Twitter. The guide also discusses the capitalization of costs, such as construction and development costs and software costs, as well as the subsequent accounting for PP&E, including impairments, depreciation and amortization, and asset disposals. California: Privacy | Do Not Sell My Personal Information. You may withdraw your consent to cookies at any time once you have entered the website through a link in the privacy policy, which you can find at the bottom of each page on the website. In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. Guide published in 2010 by EY which looks at the practical application of IAS 36 and provides an overview of key requirements. Financial Instruments, effective for annual periods beginning on or after 1 January 2018, will change the way corporates – i.e. IAS 36 seeks to ensure that an entity's assets are not carried at more than their recoverable amount (i.e. Subscribe to PwC… non-financial sector companies – account for their financial instruments. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. It … EY | Assurance | Consulting | Strategy and Transactions | Tax. He has co-authored the 12-day EY Diploma in IFRS programme. In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. Impairment of Assets: a guide to applying IAS 36 in practice: Section A 1 A. IAS 36 at a glance The objective of IAS 36 is to outline the procedures that an entity applies to ensure that its assets’ carrying values are not stated above their recoverable amounts (the … Trigger for impairment testing. Guide published in 2010 by EY which looks at the practical application of IAS 36 and provides an overview of key requirements. Challenges of applying the impairment approach. Impairment Testing IAS 36 / ASC 350 ... Corporate income tax rate 18.00% n Corporate income tax rate (EY Worldwide Corporate Tax Guide) WACC (rounded) 8.2% = g x l + k x m x (1 - n) 1 Team overview 2 Introduction 3 Cost of equity 4 Cost of debt 5 Further parameters. 1 IFRS 9 brings together the classification and measurement, impairment and hedge accounting sections of the IASB’s project replacing IAS 39 Financial Instruments: Recognition and Measurement and all previous versions of IFRS 9.

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