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    Impairment Test in the Covid-19 Pandemic

    by Silvia

    Here we are, another year comes closer to its and – and what a year! Pandemic entered into our lives in early 2020 and we all must admit it – this was totally new experience, since only older generations can remember similar situation. Yes, it…

    Non-current Assets 7

    Coronavirus and IFRS – What is happening?

    by Silvia

    Over past few months, coronavirus became the most mentioned word everywhere. No wonder – not only it takes lives of our dear ones, but it also affects our daily life in many different ways. In many countries, people cannot go to work, kids cannot go…

    Accounting Policies and Estimates, Financial Instruments, Financial Statements, Non-current Assets 64

    Example: Cash flow projections and value in use under IAS 36

    by Silvia

    In my last article, I tried to outline the main things to consider and to avoid when preparing the cash flow projections for the impairment tests under IAS 36. Here let’s illustrate the theory and show the numerical example of making cash flow projections for…

    Non-current Assets 13

    How to Make Cash Flow Projections for Impairment Testing under IAS 36

    by Silvia

    Impairment tests are one of the most judgmental areas in IFRS. It is all about estimating, judging, evaluating and forecasting. Sometimes it is almost like fortune telling, isn’t it? When I audited a few companies, I really disliked going through their impairment tests because all…

    Non-current Assets 14
    Impairment of Goodwill

    How to Test Goodwill for Impairment

    by Silvia

    When a company acquires control over another company, then often a goodwill arises, too. You should present it as an intangible asset, but when you think about it carefully, a goodwill is not a typical asset, because unlike other assets, you cannot sell it to…

    Consolidation and Groups, Non-current Assets 89
    IAS 36 Impairment of assets

    IAS 36 Impairment of Assets

    by Silvia

    Did you know that the world-wide economic crisis followed by the recession caused a sharp downfall of assets’ prices? In some countries, the prices of property fell by 30-50%! Such a steep and fast decrease had an impact on the IFRS financial reporting, too. Companies…

    IFRS Videos, Non-current Assets 80
    Pre-tax rate IFRS

    How to Calculate Pre-tax Rate for Value in Use

    by Silvia

    Dealing with impairment of assets, or cash generating units (CGU), involves one quite difficult task – to determine asset’s / CGU’s recoverable amount. Sometimes it might be an easy job, especially when fair value can be established and it is probably higher than value in…

    Non-current Assets 10

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