When to test long-lived assets for impairment
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When to test long-lived assets for impairment

2 years ago · 3 min read

Among the many consequences of COVID-19, impacts such as business and production disruptions, supply-chain interruptions, negative impacts on customers, volatility in the equity and debt markets, reduced revenue and cash flows, and other economic consequences may occur. The entities whose operations are negatively affected by COVID-19 may need to consider testing their assets for impairment.

Long-lived assets to be held and used (including property, plant, and equipment; finite-lived intangible assets; and right-of-use assets recognized under FASB ASC 842, Leases) are

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