IFRS provides guidance on impairment testing-in particular, what is supportable evidence of impairment of loans and receivables.
Question:
Instructions
Read IAS 39, paragraphs 58 to 64, and answer the following questions.
(a) When is a financial asset tested for impairment?
(b) What are examples of objective evidence" that might indicate impairment?
(c) What evidence, by itself, does not indicate impairment?
(d) Are loans and receivables treated individually or as a group?
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a IAS 39 paragraph 58 states that loans and receivables are tested at each reporting period to deter...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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