IFRS - IAS 36 Impairment of Assets

Tags

Top Highlights

• if, and only if, the recoverable amount of the unit (group of units) is less than the carrying amount of the unit

• Cash‑generating units shall be identified consistently from period to period for the same asset or types of assets

• if, the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset shall be reduced to its recoverable amount

• future cash flows

• inventories

• contract assets

• deferred tax assets

• employee benefits

• financial assets

• investment property

• biological assets

• contracts

• non‑current assets

• amount at which an asset is recognised after deducting any accumulated depreciation (amortisation) and accumulated impairment losses

• smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other

• assets other than goodwill that contribute to the future cash flows of both the cash‑generating unit under review and other

• incremental costs directly attributable to the disposal of an asset or cash‑generating unit, excluding finance costs and income tax

• cost of an asset, or other amount substituted for cost in the financial statements, less its residual value

• systematic allocation of the depreciable amount of an asset over its useful life

• price that would be received to sell an asset or paid to transfer a liability in an orderly transaction