The last 10 months have been marked by unprecedented uncertainty and volatility in both U.S. and global markets. Few companies have been spared the impacts of the COVID-19 pandemic,the China trade war and the collapse of oil prices. It is likely that these factors have not only already impacted your business and investments but that they continue to do. As a result, the likelihood that impairment charges will need to be taken has increased.
Join Dan Callanan and Rebecca McElwain as they provide answers to your burning impairment questions, tips for developing internal best practices as well as guidance on preparing for your 2020 impairment testing. This discussion will include:
- A review of the foundation of impairment testing and GAAP guidance
- An overview of the impact of COVID-19 on current capital market conditions and potential 2021 levels
- An examination of annual test vs. triggering event test dates
- Reconciling past impairment tests with recent internal performance and external market conditions
- Dealing with uncertainty in cash flow projections
- Handling volatility in key market-driven metrics
- A timeline for an ASC 350/360 engagement vs. more standard, appraisal engagements
To request a copy of this presentation, please contact us at here.
Recording
The Team
Meet the Presenters
Daniel CallananASA
Managing Director
Rebecca McElwainCPA
DirectorRelated Resources
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