The past several months have seen threats of a recession, increasing inflation, declining share prices, the Russia-Ukraine war and rising interest rates, all of which have created economic uncertainty. Although there has been much focus on the economic impact of these trends and events, the accounting impacts cannot be overlooked. Do these economic trends and events represent triggering events for impairment testing? Do any of these considerations affect a fair value analysis? In this Hot Topic, we discuss impairment considerations for goodwill, indefinite-lived intangible assets and long-lived assets.
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