Students who practice questions generally learn more effectively than those who don’t. If you’re studying IAS 36 Impairment, why not test your knowledge with our multiple choice quiz?
An investment property should be derecognised, (i.e. removed from the Statement of Financial Position) on disposal, or when the investment property is permanently withdrawn from use and no future economic benefits are expected from its disposal.
What Constitutes Impairment?
The basic requirement for IAS 36 – Impairment of Assets, is that assets must be assessed to whether there’s an indication they may be impaired.
- Disclosures regarding each material impairment recognised or reversed
- Disclosures regarding aggregate impairment losses and the aggregate reversals of impairment losses
- Unallocated goodwill