This course provides training in the background, scope and principles under IAS 36 Impairment of Assets, and the application of this Standard. The core principle in IAS 36 is that an asset must not be carried in the financial statements at more than the highest amount to be recovered through its use or sale.

Topics covered include the calculation of recoverable amount, understanding indications of impairment and any reversals. The concept of cash generating unit is also explained.

Course Key Concepts: Impairment, International Financial Reporting Standard, Cash Generating Unit, Recoverable amount, Accounting Reporting, Assets.

Learning Objectives
  • Identify an impairment loss.
  • Discover the circumstances which may indicate impairment to assets.
  • Recognize a cash generating unit (CGU).
  • Discover and explain the basis on which impairment losses should be allocated.
  • Explore how to allocate an impairment loss to the assets of a CGU.
Last updated/reviewed: August 16, 2023
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Impairment of Assets7:14
  Impairment Review9:08
  Recognition and Measurement8:52
  Reversal of Impairment4:00
  Cash Generating Units18:58
CONTINUOUS PLAY
  Impairment of Assets48:20
SUPPORTING MATERIAL
  Slides: IAS 36 - Impairment of AssetsPDF
  IAS 36 - Impairment of Assets Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam