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7 It would be unusual for a company to have an asset impairment in Year 1, but for the sake of this example, ABC determined
| 7 | It would be unusual for a company to have an asset impairment in Year 1, but for the sake of this example, ABC determined | ||||||||
| that their intangible asset might be impaired on December 31, 2021. Record the impairment adjustment, if any. | |||||||||
| The expected future undiscounted net cash flows for this intangible asset totals $175,000, and the fair value of the asset is $165,000. | |||||||||
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Certified Internal Auditor CIA Practice Of Internal Auditing Part 2- 2019
Authors: Muhammad Zain
1st Edition
1093798459, 978-1093798456
