In 2016, TallyHo Farms acquired production machinery at a cost of 430,000. In 2019, when accumulated depreciation was 180,000, Bambung reported an impairment loss of 78,000. Now, in 2023, the machinery has a book value of 142,000. The fair value less selling costs of the machinery is 273,000 and its value in use is 215,000. During impairment testing, Bambung recognized the possibility of a reversal of the previous impairment loss. What amount, if any, should Bambung recognize as a reversal of impairment loss under IFRS?

Answer rating: 100% (QA)

Under IFRS International Financial Reporting Standards an impairment loss can be reversed if there h... View the full answer