Intangible assets can represent a large portion of a company's value and carrying such assets at the wrong value can have a significant impact on the reliability of the company's balance sheet. Accounting Standards Codification 350 (ASC 350) provides the rules for determining when such assets need to be tested for a decline in value, how to determine whether and how much impairment should be recognized, and how to account for and report such impairments.
This course provides an overview of intangible asset impairment rules, showing the important distinctions based on an asset's character as finite-lived (like a patent or copyright) or infinite-lived (like goodwill or trademark). Special focus is placed on goodwill impairment.
CPAs, CMAs, CFEs, and other finance and accounting advisors, as well as controllers, asset managers, and other business professionals