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IFRS

August 5, 2004

One of the most significant changes in IFRS (International Financial Reporting Standards) is a new standard for Business Combinations. IFRS 3 says that goodwill will no longer be amortized, but it will be tested for impairment annually. Furthermore, according to IAS 36 goodwill must be allocated to each cash-generating unit. This new regulation means a lot of work with impairment during years to come. And, do not forget non-current assets held for sale. They will be tested for impairment, too.

Today most corporations buy and sell businesses often, which create a large amount of goodwill posts and assets to test for impairment. In practice impairment usually means calculation of value in use. Datapartner has its focus on calculation of value in use. Datapartner is a leading software company of investment planning in the Nordic countries. Our software Invest for Excel creates the basement for building an impairment process. It works according to IFRS standards.

Impairment will be a routine part of closing the books so a software solution for calculating the value in use requires a standard as high as the General Ledger or the Asset Register. The solution has to be reliable, easy to use, include functions for audit trail and documentation, supported and trusted by the customers. All this you will find in the offer of Invest for Excel software by Datapartner.