Page 156 - 5.1 (b) i. Finac1 ITC Summarised Notes

ITC EXAM PREP

Identification of impaired asset (IAS 36.9)

• Only test for impairment if there is an indication of

impairment: assess at end of reporting period if there is an

indication

• Exceptions (tested annually whether or not there is an

indication):

• Intangible asset with indefinite useful life/not yet

available for use; and

• Goodwill

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