Asset impairment

  • Creator
    Topic
  • March 24, 2015 at 5:09 am #192894
    payaza2000
    Participant

    Quick Question regarding Asset impairment. You are only able to recover the value of physical (tangible) assets if they are held for sale? Held for use assets are unable to recover any impairment losses correct? (US GAAP) Impairment is determined by seeing if the undiscounted cash flows are less than the carrying value if so the impairment loss is equal to the difference between the FV and d carrying amount (if CV>FMV)????

    Whereas under IFRS you are allowed to reverse an impairment lots. Impairment under IFRS is comparing the Assets recoverable amount (Selling price-disposal ???) to the FMV???

    FAR 5/6/2015- 84
    REG 8/3/2015 - 87
    AUD 10/25/2015- 69 1/20/2016 -75
    BEC 2/26/2016- 80

    Thank you God

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