IAS 3 6 Impairment of assets requires an entity to carry out an impairment review of their
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Question:
IAS Impairment of assets requires an entity to carry out an impairment review of their non current assets to assess whether or not they have been impaired.
Required:
i Explain the following terms
Impairment
Recoverable amount
Value in use
Net realizable value marks
ii Explain the treatment of impairment in financial statements. marks
iii Describe two conditions which indicate that an asset is impaired.
marks
Related Book For
Statistics The Exploration & Analysis Of Data
ISBN: 9780840058010
7th Edition
Authors: Roxy Peck, Jay L. Devore
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