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.
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 ⓘ |
Referenced by (2)
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