Bleak Weather for Sun-Shine AG: A Case Study of Impairment of Assets

This case originates from a real-life business situation and illustrates the application of impairment tests in accordance with IFRS and U.S. GAAP. In the first part of the case study, students examine conceptual questions of impairment tests under IFRS and U.S. GAAP with respect to applicable accou...

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Published in:Issues in accounting education 2015-05, Vol.30 (2), p.113-126
Main Authors: Detzen, Dominic, Wersborg, Tobias Stork genannt, Zülch, Henning
Format: Article
Language:English
Subjects:
Case studies
Classroom discussion
GAAP
Impaired assets
Instructional design
International Financial Reporting Standards
Students
Studies
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creator Detzen, Dominic
Wersborg, Tobias Stork genannt
Zülch, Henning
description This case originates from a real-life business situation and illustrates the application of impairment tests in accordance with IFRS and U.S. GAAP. In the first part of the case study, students examine conceptual questions of impairment tests under IFRS and U.S. GAAP with respect to applicable accounting standards, definitions, value concepts, and frequency of application. In addition, the case encourages students to discuss the impairment regime from an economic point of view. The second part of the instructional resource continues to provide instructors with the flexibility of applying U.S. GAAP and/or IFRS when students are asked to test a long-lived asset for impairment and, if necessary, allocate any potential impairment. This latter part demonstrates that impairment tests require professional judgment that students are to exercise in the case.
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subjects Case studies
Classroom discussion
GAAP
Impaired assets
Instructional design
International Financial Reporting Standards
Students
Studies
title Bleak Weather for Sun-Shine AG: A Case Study of Impairment of Assets
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