Surgent's Auditing Impairment of Long-Lived Assets (Audit Skills Training - Level 5) (A5M4)

Course Details





Field of Study

Accounting & Audit

CPE Credit

3 hours CPE credit

Level of Knowledge



Surgent McCoy CPE, LLC


Experience on complex audit engagements


Long-lived assets may be either finite or indefinite lived, tangible or intangible in nature. The carrying value of these long-lived assets should be evaluated at each measurement date to determine whether there is an impairment loss necessary due to declines in an asset's fair value. This module will describe the tips and techniques for determining whether an impairment loss risk exists, and how to calculate, record and disclose any such loss.


  • Indicators of impairment
  • Steps in recoverability testing for long-lived assets held and used
  • Grouping assets held and used
  • Allocating impairment loss and disclosures
  • Testing indefinite lived intangibles for impairment, including goodwill
  • Valuation techniques for comparing fair value to goodwill
  • Accounting standard changes on the horizon


  • Describe typical assets subject to impairment, including finite and indefinite lived assets
  • Discuss indicators of impairment and recoverability testing
  • Explain goodwill accounting and auditing risks

Designed For

Accountants responsible for auditing potential impairment of long-lived assets

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