Friends
Can any one of You give an example about impairment of asset, ie, how the AS on impairment of asset is applied.
Regards,
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Impairment of asset
Replies (4)
Friends/Experts
Any thoughts please.
Regards,
Impairment of assets means decrease in value of assets due to sudden decrease i value which depreciation does not show. impairment of assets is only done when certain condition are satisfied
Attached file is the extract of ACCA Study Book for IAS 36 (based on IFRS) which gives easy and helpful insigt to the subject. (the priciples would be same to IndAS as well).
Hi
impairment is other than temporary reduction in value of asset
it is calculated by discounting the projected inflows and if the discounted [rojected inflows are less than the carrying cost of the asset, impairment loss is provided
regards
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