Webinar Details $199
- Webinar Date: July 29, 2025
- Webinar Time: 2:00 pm - 3:40 pm EDT live
- Webinar Length: 100 Minutes
- Guest Speaker: Chuck Borek
- Topic: Taxation and Accounting, Accounting
- Credit: CPE 2.00, ATATX 1.50
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Understanding asset valuation is crucial to maintaining the integrity of financial statements. Under Generally Accepted Accounting Principles (GAAP), the historical cost principle ensures a consistent method for recording assets based on their original purchase price. However, in fluctuating economic environments, this approach may not accurately represent the current value of fixed assets. While depreciation is typically used to account for normal declines in value, it does not address scenarios where a permanent impairment has occurred. This webinar will explore how GAAP handles such instances and why recognizing impairment is essential for transparent and reliable financial reporting.
This session will guide participants through the fundamental rules and processes surrounding asset impairment under GAAP. Key topics include identifying which assets are subject to impairment, applying the two-step process for recognition, and understanding the tax and disclosure implications. We will also cover recent Accounting Standards Updates that impact impairment accounting. This is an essential session for finance professionals aiming to stay compliant and ensure accuracy in asset valuation.
Your Benefits For Attending:- Understand the principles and objectives of asset impairment presentation under GAAP.
- Identify the types of assets subject to impairment and how to assess them.
- Learn the two-step process for recognizing and measuring asset impairment.
- Explore the tax implications and required disclosures related to impaired assets.
- Stay up to date with the most recent Accounting Standards Updates relevant to impairment.
This webinar is a valuable opportunity to strengthen your technical accounting knowledge and ensure your organization’s financial statements reflect asset values accurately and in compliance with current standards.
Who Would Benefit from This Webinar:
Finance professionals, accountants, auditors, and controllers responsible for asset accounting and financial reporting will find this session particularly useful.
Level: Beginner/Intermediate
Format: Live webcast
Instructional Method: Group: Internet-based
NASBA Field of Study: Accounting (2 hours)
Program Prerequisites: None
Advance Preparation: None
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Chuck Borek
Chuck Borek is a practicing attorney and founder of the Borek Group, LLC. Chuck is also a CPA, and his background includes five years as a partner in a public accounting firm. He received his law degree and MBA summa cum laude from the University of Baltimore in 1993, where he was editor [...]
CPE Credit
Aurora Training Advantage is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
For more information regarding administrative policies such as complaint and refund, and cancellation please contact our offices at 407-542-4317 or training@auroratrainingadvantage.com.
ATATX Credit
Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in accounting.