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Course 1300
IFRS and US GAAP Valuation of Brands and Other Intangible Assets

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Contents


Introduction

The identification and valuation of intangible assets is, in many cases, one of the most complex areas an entity may encounter in a business combination.

This course is an overview of contemporary approaches to valuing intangible assets and related issues used for accounting for business combinations under both IFRS (IFRS 3) and US GAAP (FAS 141). The course considers the regulatory framework and the generally accepted approaches to valuation; (1) Income, (2) Market, and (3) Cost. A systematic approach to applying these techniques to real world settings is emphasized, and participants use computer models to understand what drives intangible asset valuations. The program includes a worked case study quantifying intangible asset valuations for a business acquisition.

The course will benefit CFOs and other financial officers who need to manage the purchase price allocation process by providing an understanding of the overriding principles and important issues relating to intangible asset valuation.

This program answers questions such as:

  • How are the intangible assets associated with a business combination identified?
  • What methods are used to value intangible assets?
  • When is impairment testing required and how is it implemented?
  • How are appropriate lives for intangible assets determined?
  • What are the differences between IFRS and US GAAP in accounting for intangible assets?

Prerequisites

Knowledge of basic accounting for assets and business combinations.
No advance preparation is required for this course.

Course Level

Intermediate

Topics

  • Governing Guidelines
  • IFRS
  • US GAAP
  • Valuation standards
  • Other regulations
  • Normal practice
  • Standard of Value
  • Fair value
  • Market value
  • Identifying the Intangible Assets
  • Criteria for recognition
  • How to identify
  • Checklists
  • Valuation Methodologies
  • Income approach (relief from royalty)
  • Market approach
  • Cost approach
  • Case Study
  • Work through a case study outlining the valuation of intangibles and associated issues for a business acquisition
  • Lives of Intangible Assets
  • Significance
  • Template
  • Impairment
  • Intangible assets
  • Goodwill
  • Residual Goodwill
  • Justification
  • Synergies
  • Intangible assets not meeting recognition criteria
  • Others
  • Key Differences IFRS 3 to FAS 141
  • Impairment
  • Write back of prior impairments
  • Goodwill disclosure
  • Summary of Key Overall Issues

Course Benefits

  • Learn how to identify the intangible assets associated with a business combination
  • Understand the various ‘real-world’ methods used to value intangible assets
  • Implement accurate impairment testing for intangible assets
  • Determine appropriate lives for intangible assets
  • Appreciate the differences between IFRS and US GAAP in accounting for intangible assets
  • Comprehend the meaning of residual goodwill and recognize the most important related issues

Teaching Method

  • Live group instruction with interactive participation encouraged
  • Explanation and demonstration of intangible asset valuation models, with practical examples to illustrate their application
  • Presentation and discussion of real-world situations
  • A case study leading delegates through the step-by-step valuation of intangible assets relating to a business combination and related issues
  • All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

Continuing Professional Education (CPE)

8 hours

Venue

All of our Dubai seminars take place in 4 star professional conference facilities, usually in city-centre downtown hotels like the Marriott, Sheraton or Hilton brands.

Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available.

Coffee and lunch will be provided.

Course Summary

This course has been developed in association with Intangible Business Ltd. (www.intangiblebusiness.com), a specialist brand valuation, strategy and development consultancy. It focuses on the approaches that may be used to identify and value intangible assets in accounting for business combinations. The program also covers other important intangible-related valuation issues such as impairment.

The one-day program covers the following topics using models, examples, real-world illustrations, and case study: Governing guidelines (IFRS, US GAAP, valuation standards, other regulations, normal practice) | Standard of value (fair value, market value) | Identifying the intangible assets (criteria for recognition, how to identify, checklists) | Valuation methodologies (income approach, market approach, cost approach) | Case study (outlining the valuation of intangibles and associated issues for a business acquisition) | Lives of intangible assets (significance, template) | Impairment (intangible assets, goodwill) | Residual goodwill (justification, synergies, intangible assets not meeting recognition criteria, others) | Key differences IFRS 3 to SFAS 141 (impairment, write back of prior impairments, goodwill disclosure) | Summary of key overall issues.