This course will be an overview of:
- Understanding the definition of a business and when a set of activities may be either a business or may be assets.
- When to test assets for impairment losses and how to measure and recognize an impairment loss for the different forms of assets held by an entity.
- Accounting and financial reporting for different forms of exit and disposal cost obligations and activities.
After completing this course, the learner should be able to:
- Distinguish the differences between the acquisition (or disposition) of a business versus an asset.
- Highlight the accounting and reporting requirements for impairment losses on long-lived assets, intangible assets, goodwill and investments that may be associated with a business restructuring.
- Review the accounting and reporting requirements for exit and disposal activities associated with a business restructuring.
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