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Impairment testing was introduced to ensure that the carrying amount of an asset recognized on the balance sheets does not exceed its recoverable amount. Therefore, basically...
Until the announcement IAS 36, there had been a wide range of practices dealing with impairment recognition and measurement. Many jurisdictions—European at most—had statutory obligations to...
Goodwill is not subject to amortization. Instead, companies must conduct periodic impairment testing. The amount of goodwill that a company maintains on its books as an...
Asset impairment occurs when the fair value of an asset declines below the amount at which it is recorded on the books (its carrying amount). Impairment...
The approach of this post is to discuss core concepts and other key elements of the “IMPAIRMENT OF ASSETS” standards, and maybe, a little material in...