Wiley IFRS 2017

13Impairment of Assets and Non-Current Assets Held for Sale

1. Introduction
2. Definitions of Terms
3. Impairment of Assets (IAS 36)
   1. 1. Scope of IAS 36
      2. Principal requirements of IAS 36
      3. Identifying impairments
      4. Computing recoverable amounts—general concepts
      5. Determining fair value less costs to sell
      6. Computing value in use
      7. Cash-generating units
      8. Discount rate
      9. Corporate assets
      10. Accounting for impairments
      11. Reversals of previously recognised impairments under historical cost method of accounting
      12. Reversals of previously recognised impairments under revaluation method of accounting
      13. Impairments that will be mitigated by recoveries or compensation from third parties
      14. Disclosure requirements
4. Examples of Financial Statement Disclosures
5. Non-Current Assets Held for Sale
   1. 1. Held-for-sale classification
      2. Measurement of non-current assets held for sale
      3. Change of plans
      4. Presentation and disclosure
6. Discontinued Operations
   1. 1. Presentation and disclosure
7. Examples of Financial Statement Disclosures
8. US GAAP Comparison

Introduction

It has long been held that an entity's statement of financial position should never present assets at amounts in excess of some threshold level of economic utility; under different national GAAP standards, this was variously defined in terms of market value or an amount which could be recovered from future revenues to be derived from utilisation of the asset. IAS 36, Impairment of Assets, which was introduced in 1998, significantly altered the accounting landscape by providing ...