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Podcast overview
In this 30-minute podcast, specialists from KPMG’s Department of Professional Practice discuss the implications of COVID-19 on the impairment of nonfinancial assets and related controls and valuation issues.
Applicability
- All companies
Relevant dates
- Effective immediately
Podcast contents
- 01:25 – Overview of types of nonfinancial assets and approach to reevaluating in light of changing business plans
- 05:30 – Big picture considerations in assessing whether an asset is recoverable, including controls and projecting cash flows using a single best estimate vs multiple scenarios
- 09:40 – Impairment of goodwill, including control premiums, reconciliation to market capitalization and which stock price to use, and discount rates
- 17:50 – Impairment of long-lived assets (e.g. property, plant and equipment and leased (right-of use) assets), and other actions such as sale and abandonment
- 24:30 – Disclosure considerations
Explore more
Resource
Coronavirus-related impairment of nonfinancial assets
Updated: FAQs on the impairment of goodwill and long-lived assets as a result of COVID-19.
Resource
Coronavirus-related impacts on internal control
Impacts on entities’ execution of the COSO Internal Control Framework
Financial reporting impacts of COVID-19
Guidance, updates and news covering financial reporting impacts of COVID-19
Meet our team
Brian Fields
Transformation Leader, Audit, KPMG US
Frederik Bort
Managing Director, Dept. of Professional Practice, KPMG US
Nick Burgmeier
Partner, Dept. of Professional Practice, KPMG US
Julie Santoro
Partner, Dept. of Professional Practice, KPMG
Brian Fields
Transformation Leader, Audit, KPMG US
Frederik Bort
Managing Director, Dept. of Professional Practice, KPMG US
Nick Burgmeier
Partner, Dept. of Professional Practice, KPMG US
Julie Santoro
Partner, Dept. of Professional Practice, KPMG