ASC 350 and 360: Impairment

When economic conditions change, impairment can rear its ugly head. Our ASC 350 and ASC 360 CPE courses explain the different U.S. GAAP impairment models that apply to long-lived assets, intangible assets, and goodwill.

This collection includes two self-study courses eligible for 2.5 CPE credits. The courses cover impairment testing for property, plant and equipment and intangible assets, including the different models that apply to definite-lived and indefinite-lived intangible assets. They also address reporting units and the goodwill impairment model under ASC 350.

Topics covered include:

• Long-lived asset impairment under ASC 360
• Property, plant and equipment impairment
• Definite-lived intangible asset impairment
• Indefinite-lived intangible asset impairment
• Identifying reporting units
• Goodwill impairment testing under ASC 350

Further details

The collection brings together impairment models that are often confused because they apply to different types of assets. ASC 360, Property, Plant, and Equipment provides the framework for long-lived assets such as PP&E and certain definite-lived intangible assets, while ASC 350, Intangibles - Goodwill and Other contains separate models for indefinite-lived intangible assets and goodwill.

Learners work through when impairment testing is triggered, how the relevant unit of account differs by asset type, and how the measurement approach changes depending on whether the asset is long-lived, definite-lived, indefinite-lived, or goodwill. For goodwill, the courses address the identification of reporting units and the role those reporting units play in the impairment analysis.

The key takeaway is that 'impairment' is not one U.S. GAAP model. The right answer depends first on what asset is being tested and which Codification topic governs that asset.

Who will benefit

These ASC 350 and ASC 360 CPE courses are useful for accountants, valuation and financial reporting teams, and auditors dealing with PP&E, intangible assets, or goodwill. They are especially relevant when declining performance, market changes, restructuring, or acquisition-related balances create impairment indicators and the team must quickly determine which impairment model applies.

Value proposition

Purchase both courses for $209 instead of $300 if purchased separately—a savings of $91.

Interested in group discounts? Contact us today to learn more.