CPA Voice: Accounting for Impairment of Long-Lived Assets

Written on Mar 25, 2021

The COVID-19 pandemic has brought with it a multitude of accounting challenges, including accounting for asset impairments. 

Matthew D. Rosen, CPA, MBA, dives into this topic in the March/April issue of CPA Voice. 

“When discussing impairment, most, justifiably, think first of goodwill impairment from historically requiring an annual impairment assessment and the standard having multiple Accounting Standard Updates over the past decade,” Rosen writes. “Less familiar to many are the rules for impairment of long-lived assets, such as plant, property, and equipment or amortizable intangibles. 

March/April CPA Voice Magazine Cover

“Although not substantially changed in more than 10 years – because this topic only applies when there is a triggering event – fewer CPAs have experience in the area.” 

Impairment analysis is burdensome, but there are areas where correctly applying the standard may reduce the scope and costs. Read the entire article now to learn about those areas – and earn a CPE credit while you’re at it! 

Don’t miss this convenient, self-study CPE – Now free! 

Did you know that reading CPA Voice can help you satisfy your CPE requirement? No matter your location or the time of day – and even without the benefit of electricity – you can gain CPE credit with each issue. 

Every edition includes a 12-question self-assessment exam covering content from that issue. Receive a grade of 75% or higher and you’ll earn one hour of CPE credit in specialized knowledge. 

Best of all, you can take the exam when and where it’s convenient for you. Exams remain available online – and may be completed for CPE – through the same month of the following year.