IAS 36 Impairment of Assets
E453768
IAS 36 Impairment of Assets is an International Accounting Standard that prescribes procedures to ensure assets are not carried at more than their recoverable amount, requiring entities to recognize and measure impairment losses when necessary.
All labels observed (1)
| Label | Occurrences |
|---|---|
| IAS 36 Impairment of Assets canonical | 2 |
How this entity was disambiguated
This entity first appeared as the object of triple T4575843 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: IAS 36 Impairment of Assets Context triple: [IFRS, includesStandard, IAS 36 Impairment of Assets]
-
A.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
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B.
IFRS
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
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C.
International Financial Reporting Standards
International Financial Reporting Standards are a globally recognized set of accounting rules and principles designed to bring transparency, consistency, and comparability to financial statements across different countries.
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D.
ASC 805 Business Combinations
ASC 805 Business Combinations is a U.S. GAAP accounting standard that provides guidance on how companies should recognize, measure, and disclose assets, liabilities, and goodwill arising from mergers and acquisitions.
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E.
FASB Accounting Standards Codification
The FASB Accounting Standards Codification is the single, authoritative source of nongovernmental U.S. GAAP, organizing all relevant accounting standards into a comprehensive, structured framework.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: IAS 36 Impairment of Assets Target entity description: IAS 36 Impairment of Assets is an International Accounting Standard that prescribes procedures to ensure assets are not carried at more than their recoverable amount, requiring entities to recognize and measure impairment losses when necessary.
-
A.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
-
B.
IFRS
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
-
C.
International Financial Reporting Standards
International Financial Reporting Standards are a globally recognized set of accounting rules and principles designed to bring transparency, consistency, and comparability to financial statements across different countries.
-
D.
ASC 805 Business Combinations
ASC 805 Business Combinations is a U.S. GAAP accounting standard that provides guidance on how companies should recognize, measure, and disclose assets, liabilities, and goodwill arising from mergers and acquisitions.
-
E.
FASB Accounting Standards Codification
The FASB Accounting Standards Codification is the single, authoritative source of nongovernmental U.S. GAAP, organizing all relevant accounting standards into a comprehensive, structured framework.
- F. None of above. chosen
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
Accounting standard
ⓘ
International Accounting Standard ⓘ |
| aimsTo | Improve reliability and relevance of asset carrying amounts ⓘ |
| appliesTo |
Both separate and consolidated financial statements
ⓘ
Goodwill ⓘ Intangible assets ⓘ Investment property carried at cost ⓘ Investments in associates ⓘ Investments in joint ventures ⓘ Investments in subsidiaries ⓘ Property, plant and equipment ⓘ |
| defines |
Cash‑generating unit
ⓘ
Fair value less costs of disposal ⓘ Impairment loss ⓘ Recoverable amount ⓘ Value in use ⓘ |
| excludes |
Assets arising from employee benefits
ⓘ
Biological assets measured at fair value less costs to sell ⓘ Deferred tax assets ⓘ Financial assets within IFRS 9 ⓘ Insurance contract assets ⓘ Inventories ⓘ Investment property measured at fair value ⓘ Non‑current assets held for sale under IFRS 5 ⓘ |
| governs | Impairment of assets ⓘ |
| issuedBy | International Accounting Standards Board NERFINISHED ⓘ |
| keyConcept | Recoverable amount is the higher of fair value less costs of disposal and value in use ⓘ |
| measurementBasis | Present value of future cash flows for value in use ⓘ |
| objective | Ensure assets are not carried at more than their recoverable amount ⓘ |
| partOf | IFRS literature NERFINISHED ⓘ |
| prohibits | Reversal of impairment losses for goodwill in most circumstances ⓘ |
| relatedTo |
IAS 16 Property, Plant and Equipment
NERFINISHED
ⓘ
IAS 38 Intangible Assets NERFINISHED ⓘ IFRS 3 Business Combinations NERFINISHED ⓘ |
| requires |
Allocation of goodwill to cash‑generating units
ⓘ
Annual impairment test for goodwill ⓘ Annual impairment test for intangible assets with indefinite useful lives ⓘ Consideration of external indicators of impairment ⓘ Consideration of internal indicators of impairment ⓘ Disclosure of key assumptions used in impairment testing ⓘ Disclosure of sensitivity of recoverable amount to changes in key assumptions ⓘ Impairment testing when there is an indication of impairment ⓘ Measurement of impairment losses ⓘ Recognition of impairment loss in profit or loss unless another standard requires otherwise ⓘ Recognition of impairment losses ⓘ Reversal of impairment losses when appropriate ⓘ Use of pre‑tax discount rates for value in use calculations ⓘ |
| scope | Non‑financial assets not covered by other specific IFRS measurement standards ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: IAS 36 Impairment of Assets Description of subject: IAS 36 Impairment of Assets is an International Accounting Standard that prescribes procedures to ensure assets are not carried at more than their recoverable amount, requiring entities to recognize and measure impairment losses when necessary.
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.