Overview 

IAS 36, Impairment of Assets, is an International Accounting Standard that aims to ensure that assets are not carried at a value higher than their recoverable amount. This standard applies to all assets except those for which other standards address impairment, such as inventories, deferred tax assets, and financial assets within the scope of IFRS 9.

The core principle of IAS 36 is that if an asset's carrying amount exceeds its recoverable amount, the asset is considered impaired. The entity must then reduce the carrying amount to its recoverable amount and recognize an impairment loss in the financial statements.

Learning objectives 

Attending this webinar will equip you with the following skills:  

• Understand the concept of impairment and its significance in financial reporting.
• Identify the assets that fall under the scope of IAS 36.
• Determine the recoverable amount of an asset, considering both its fair value less costs to sell and its value in use.
• Recognize and measure impairment losses.
• Understand the accounting treatment for impairment losses, including their impact on depreciation and amortization.
• Identify the circumstances under which impairment losses can be reversed and the accounting treatment for such reversals.
• Apply the specific requirements for testing goodwill and intangible assets with indefinite useful lives for impairment.
• Understand the disclosure requirements related to impairment of assets.

Content 

The webinar will cover the following topics:   

• Introduction to IAS 36

  • The objective and scope of the standard

  • Key definitions: carrying amount, recoverable amount, impairment loss, cash-generating unit

  • The principle of not carrying assets at more than their recoverable amount

• Identifying Impairment
  • Indicators of impairment: internal and external sources of information
  • When to test for impairment: annual testing for certain assets, other assets when indicators exist
• Measuring the Recoverable Amount
  • Determining the recoverable amount: the higher of fair value less costs to sell and value in use
  • Estimating fair value less costs to sell
  • Estimating value in use: future cash flows, discount rate
  • Considerations for specific assets: assets with finite useful lives, intangible assets, goodwill
• Recognizing and Measuring Impairment Losses
  • Recognizing impairment losses in the income statement
  • Impact on depreciation and amortization
  • Allocating impairment losses to cash-generating units
• Reversing Impairment Losses
  • Conditions for reversing impairment losses
  • Accounting treatment for reversals
  • Limitations on the reversal of impairment losses
• Impairment of Goodwill
  • Annual impairment testing for goodwill
  • Allocating goodwill to cash-generating units
  • Accounting for goodwill impairment losses
  • Non-reversal of goodwill impairment losses
• Disclosure Requirements
  • Information about impaired assets
  • Impairment losses recognized or reversed
  • Key assumptions used in determining recoverable amounts

Obtaining your CPD certificate 

This training is compliant with the International Education Standard (IES7) issued by the International Federation of Accountants and recognised for CPD by relevant professional bodies including ACCA, CIMA, IAC, IIA, SAICA and SAIPA. 

All attendees are issued with a CPD certificate available in an online profile.   

About the presenter 

Caryn Maitland CA(SA)  

Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002 and is also a registered member of SAICA.  

Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics. She has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014.  Caryn is also involved with the annual SAICA SMP Technical tour. 

Who should attend? 

The following persons will benefit from attending this webinar: 

• Registered auditors. 

• Practising accountants including: CA(SA), Professional Accountant (SA), AGA(SA), FCCA, BAP(SA), BA(SA) and ACCA. 

• Independent reviewers. 

• Trainee accountants. 

Price 

• R 450.00 - Online admission - Individual. 

• Group Price 1 - From R337 per person (up to 5 users)   

• Group Price 2 - From R260 per person (up to 10 users)   

• Group Price 3 - From R224 per person (over 11 users)  

Steps to register for the event:  

If you already have a profile, login and register for the webinar. 

If you don’t have a profile, create a free profile then login and register for the webinar. 

Click here to create a free profile (There is no charge to create a profile and gain access to our free Monthly Practice Management Series). 

Click here to find out about the Technical Resource Centre & CPD Subscription options. 

Additional material 

By attending this webinar you will be provided with: 

• A summarised slide presentation. 

• Reference documents and/or course material where available. 

• You can ask questions during the webinar and you will also have access to the presenter after the webinar. 

Corporate training solutions 

At SA Accounting Academy, we recognise the evolving needs of businesses in today's dynamic environment. Beyond our standard webinar offerings, we provide tailored corporate training solutions designed to empower your team with the latest in accounting and professional skills. Whether you're looking for online sessions or face-to-face training, our programs are crafted to ensure a comprehensive and engaging learning experience.  

Drawing inspiration from modern training methodologies, our corporate solutions are interactive, adaptable, and focused on real-world applications. We prioritise hands-on learning, ensuring your team can immediately apply their newfound knowledge in practical scenarios.  

Interested in a bespoke corporate training experience? Reach out to us at corporate@accountingacademy.co.za or call 010 593 0466. Together, let's design a training program that elevates your team's capabilities and aligns with your organisational goals.  

Contact us   

Have any questions or need any assistance? Contact us today!   

• Online chat through our website.   

• WhatsApp: Start chatting (+27635026114)   

• Phone: 010 593 0466   

• E-mail: ticket@accountingacademy.co.za