Are you an auditor or accountant looking to stay up-to-date on the latest financial reporting standards? In February’s CPD Club Membership Monthly Update Lindsay Webber reviewed section 27 of the FRS 102.
In this extract, Lindsay explains the 7 indicators that should be taken into account when assessing the value of an asset and determining if an impairment review is necessary. These indicators include both internal and external sources of information, such as market value, wear and tear, discontinuation of cash flows, and more.
With practical examples, Lindsay dives into the details of each indicator and provides insight into disclosures, accounting policies, and estimation uncertainty. Whether you’re audit-exempt or not, it’s essential to understand these indicators and determine if an impairment review is necessary.
The CPD Club Membership Monthly Update is an exclusive webinar for CPD Club members where the OmniPro Technical Team cover the latest issues and hot topics they see accountants in practice facing in their day-to-day work. Find out more here: https://www.cpdstore.ie/cpd-club