Question
I need a critical analysis of some of the complexities and key issues involved in impairment testing especially in light of the COVID-19 pandemic. In
I need a critical analysis of some of the complexities and key issues involved in impairment testing especially in light of the COVID-19 pandemic.
In the analysis, you can refer to one or more publications issued by the 'Big 4' firms (e.g. Deloitte,KPMG), accounting professional bodies or academic journals.
Details: for example, Given the uncertainties posed by COVID, perhaps it is hard to calculate future cash flows for value in use, or fair values might no longer be available, or risk or interest rates might be of concern. Please analyse and summarise what key accounting bodies and accounting professionals have said about these types of issues.
Thank you.
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