IFRS for SME Section 27 Impairment of Assets
CPD Hours: 2
Price: R237.50
This is part of a series
Read more about seriesEconomies of the world are in turmoil with many of them, including South Africa, in recession! In this current situation, what is the accountant's obligation regarding assets and their impairment?
It is important that the accountant, in the performance of his/her duties, regularly tests assets (or groups of assets called ‘cash-generating units’) for impairment. Macro-economic indicators of possible impairment trigger the necessity to test assets for impairment, just like micro-economic indicators, such as significant damage to an asset, do.
The correct principles for applying the process of impairment testing are laid out in the IFRS for SMEs Section 27 Impairment of Assets.
By the end of this event the participant should:
Understand the requirements of IFRS for SMEs Section 27 Impairment of Assets;
Know how to practically perform impairment testing on assets; and
Know how to disclose impairment.
The webinar will cover the following topics:
Scope of IFRS for SMEs Section 27 Impairment of Assets.
Asset impairment indicators.
Impairment of inventories.
Impairment of other assets.
Goodwill impairment.
Disclosure.