A. acritical analysis of some of the complexities and key issues involved in impairment testing especially in light of the COVID-19 pandemic. In your analysis, you can refer to one or more publications issued by the 'Big 4' firms, accounting professional bodies or academic journals. For the Part A of the report requirements, you need research on complexities with impairment testing. Here you will need to look at reports released by the Big 4 accounting firms or the professional accounting bodies like CPA, CA or ACCA. Briefly summarise what the key complexities could be. For example, you need to calculate recoverable amount for impairment testing which is fair value less costs to sell or value in use. Given the uncertainties posed by COVID, perhaps it is hard to calculate future cash flows for value in use, or fair values might no longer be available, or risk or interest rates might be of concern. need to analyse and summarise what

A. acritical analysis of some of the complexities and key issues involved in impairment testing especially in light of the COVID-19 pandemic. In your analysis, you can refer to one or more publications issued by the 'Big 4' firms, accounting professional bodies or academic journals. For the Part A of the report requirements, you need research on complexities with impairment testing. Here you will need to look at reports released by the Big 4 accounting firms or the professional accounting bodies like CPA, CA or ACCA. Briefly summarise what the key complexities could be. For example, you need to calculate recoverable amount for impairment testing which is fair value less costs to sell or value in use. Given the uncertainties posed by COVID, perhaps it is hard to calculate future cash flows for value in use, or fair values might no longer be available, or risk or interest rates might be of concern. need to analyse and summarise what

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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