Page 17 - Finac1 Test 3 slides - 3. Impairment of Assets
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TEST 3 PREPARATION
How to calculate an impairment loss?
• Step 4: Recognise the impairment loss in the financial
statements
• If an impairment loss is recognised, any related deferred tax assets or liabilities are
determined in accordance with IAS 12 Income Taxes, by comparing the revised
carrying amount of the asset with its tax base. (IAS 36.64).
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