PPE Impairment
• Robert Fisher, PPE Manager, reviews available information and prepares the estimate of fixed asset impairments, if applicable each reporting period. He reviews Board minutes, budgets, strategic plans, etc. for any potential changes in business practices or market conditions that may give rise to potential impairment issues. He documents his considerations and conclusions which includes how the following are taken into account:
– Identification of indicators of potential impairment
– Identification of key assumptions, such as discount factors and income generating units in any impairment charges
– Requirements of accounting standards to review for potential impairments at least annually
Josh Rana, Finance Manager approves the assessment.