UK GAAP 2019

Chapter 24Impairment of assets

• 1 INTRODUCTION
• 2 COMPARISON BETWEEN SECTION 27 AND IFRS
  • 2.1 Scope
  • 2.2 Timing of impairment tests
  • 2.3 Allocation of goodwill
  • 2.4 Disclosure differences
• 3 REQUIREMENTS OF SECTION 27 FOR IMPAIRMENT
  • 3.1 Objective and scope
  • 3.2 Terms used in Section 27
  • 3.3 Impairment of inventories
• 4 IMPAIRMENT OF ASSETS OTHER THAN INVENTORIES
  • 4.1 General principles
  • 4.2 Testing individual assets or cash generating units
  • 4.3 Indicators of impairment
    • 4.3.1 Future performance
    • 4.3.2 Individual assets or part of CGU?
    • 4.3.3 Interest rates
  • 4.4 Measuring recoverable amount
    • 4.4.1 Consistency and the impairment test
  • 4.5 Fair value less costs to sell (FVLCS)
    • 4.5.1 Estimating fair value less costs to sell without an active market
    • 4.5.2 Effect of restrictions on fair value
  • 4.6 Value in use (VIU)
    • 4.6.1 Estimating the future pre-tax cash flows of the CGU under review
    • 4.6.2 Financing and taxation
    • 4.6.3 Restructuring and improvements
    • 4.6.4 Terminal values
    • 4.6.5 Discount rate
    • 4.6.6 Assets held for their service potential
    • 4.6.7 Corporate assets
    • 4.6.8 Overheads and share-based payments
• 5 GOODWILL AND ITS ALLOCATION TO CGUs
  • 5.1 Goodwill on non-controlling interests
• 6 RECOGNISING AND MEASURING IMPAIRMENT LOSSES
  • 6.1 Recognising an impairment loss on an individual asset
  • 6.2 Recognising an impairment loss on a CGU
  • 6.3 Recognising an impairment loss on a group of CGUs
  • 6.4 Recognising an impairment loss on a CGU with goodwill and non-controlling interests
  • 6.5 Impairment of ...