Asset Impairment Toolkit

Asset Impairment Toolkit

CD

$740.00* RRP

Date: 21/08/2006

Code: 30138776

Thomson Reuters, AUSTRALIA

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Available Formats

Format Title Date Code Price
CD Asset Impairment Toolkit 21/08/2006 30138776 $740.00
Online Asset Impairment Toolkit - Checkpoint 41412842 $740.00

Description

The global economic slowdown in recent years had an adverse impact on many businesses, often resulting in lower cash flows. Lower cash flows increase the likelihood that asset carrying amounts may be “impaired” in terms of AASB 136 “Impairment of Assets”.

In July 2010, ASIC advised that impairment testing is one of the most difficult areas of financial report preparation for entities. A number of issues of compliance with AASB 136 identified in previous reviews continued to be prevalent at 31 December 2009.

ASIC has encouraged companies and their auditors to continue to focus on this area of reporting.

Directors and audit committees have a key role in reviewing the appropriateness of cash flow projections, growth and discount rates, and other key assumptions. Given the complexity of this area, it is very important that directors employ an appropriate level of internal or external expertise.

Created by Moore Stephens, the Asset Impairment Toolkit steps you through the entire impairment process from determining whether an asset may be impaired, to calculating recoverable amount and any impairment loss.

The Asset Impairment Toolkit is an application that provides a practical step-by-step assistance in applying AASB 136 to your financial reports and accounting information.  AASB 136 Impairment requires that an entity must consider whether there are any impairment indicators which may suggest that an asset may be impaired.  If indicators exist, the entity is required to prepare an impairment calculation.  Where an entity has goodwill recognised, the AASB 136 requires the entity to prepare an annual impairment analysis.

The impairment toolkit is a key resource for organisations so they are able to quantify the effect of any impairment charge to make the organisation financial reporting season as smooth as possible. With automatically generated journal entries and inbuilt documentation of assumptions, it gives you the added benefit of an audit trail of the decisions and work you undertake.

Features

  • Step through the application of AASB 136 from start to finish.
  • Includes simple functionality and a comprehensive user guide with worked examples.
  • Tests cash-generating units (CGUs), intangibles and individual assets in profit and not for-profit entities.
  • Contains formula driven templates for value in use and fair value calculations and automated calculation of impairment loss and generation of journal entries.
  • Saves and retains prior year files

Benefits

  • Save research time and guides you through the requirements of AASB 136.
  • Easy to use
  • Versatile - can be used by various business in many scenarios.
  • Reduces the risk of error.
  • Documentation on hand to support your accounting calculations.

Registration and Lockdown: Please note, subscription to the Asset Impairment Toolkit is for a period of 365 days from the time you input your unlock code.

NB: At this stage, the Asset Impairment Toolkit is not compatible with Apple computers.

*

Price is for a single annual subscription and includes all updates issued during this period. Thereafter subscription renewal invoices and updates will automatically be issued. Subscribers must provide the publisher with written notice of cancellation within 30 days of the date of their subscription invoice; otherwise the subscriber will be liable for the invoiced amount.

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