Page 27 - Finac1 Test 3 slides - 3. Impairment of Assets

TEST 3 PREPARATION

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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