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IMPAIRMENT OF ASSETS

When should impairment be applied?

• This standard applies to financial assets classified

as:

• investments in subsidiaries, associates and joint

ventures as they are excluded from the scope of the

standard on financial instruments: disclosure and

presentation; (IAS 36.04)

• assets that are carried at revalued amounts in

accordance with other standards such as the revaluation

model in IAS 16 Property, plant and equipment. (IAS

36.05)

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