Handbooks | December 2020

 

Insight

Handbook: Impairment of nonfinancial assets

Latest edition: KPMG in-depth guide to impairment testing, covering the models in ASC 350-20, ASC 350-30 and ASC 360.

Julie Santoro

Julie Santoro

Partner, Dept. of Professional Practice, KPMG US

+1 212-954-1086

Nick Burgmeier

Nick Burgmeier

Partner, Dept. of Professional Practice, KPMG US

+1 212-909-5455


Using Q&As and examples, this guide explains in depth the impairment models for goodwill, indefinite-lived intangible assets and long-lived assets.

Applicability

  • All entities

Key impacts

A single roadmap to testing nonfinancial assets for impairment – helping you to compare and contrast the different models:

  • Updated for recent practice developments and evolving interpretations
  • Goodwill under ASC 350-20
  • Indefinite-lived intangible assets under ASC 350-30
  • Long-lived assets under ASC 360

Report contents

  • Scope of impairment models
  • The unit of account
  • When to test
  • Carrying amount
  • Qualitative assessment
  • Recoverability test: Long-lived assets
  • Fair value measurement
  • Recognition and allocation
  • Disclosures
  • Private company and not-for-profit alternative
  • Before ASU 2017-04

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