13 IMPAIRMENT OF ASSETS AND NON-CURRENT ASSETS HELD FOR SALE

INTRODUCTION

This chapter deals both with IAS 36, Impairment of Assets, and IFRS 5, Non-Current Assets Held for Sale and Discontinued Operations. IAS 36 identifies when the carrying amount of a certain asset needs to be reduced to its recoverable amount. IFRS 5 determines the treatment of non-current assets held for sale and discontinued operations. An impairment exists when the recoverable amount (the higher of fair value less cost to sell and value in use) is less than the carrying amount. This assessment ...

Get Wiley Interpretation and Application of IFRS Standards now with the O’Reilly learning platform.

O’Reilly members experience live online training, plus books, videos, and digital content from nearly 200 publishers.