Page 20 - Finac1 Test 3 slides - 3. Impairment of Assets

TEST 3 PREPARATION

Reversal of an impairment loss – individual asset

• A reversal of an impairment loss for an asset shall be

recognised immediately in profit or loss, unless the asset is

carried at a revalued amount.

• Any reversal of an impairment loss on a revalued asset shall

be treated as a revaluation increase in accordance with the

other standard (IAS 36.119)

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