Page 13 - 2018 Finac1 Test 3 Class Slides - 2. Intangible Assets

TEST 3 PREPARATION

Definitions - 38.08

• An impairment loss is the amount by which the

carrying amount of an asset exceeds its recoverable

amount.

• Carrying amount is the amount at which an asset is

recognised in the statement of financial position

after deducting any accumulated amortisation and

accumulated impairment losses thereon.

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