In 2015, Bambung Corporation acquired production machinery at a cost of £416,000, which now has a book value of £197,000. The discounted future cash flows from use of the machinery is £179,000 and its fair value less costs to sell is £156,000. What amount should Bambung recognize as a loss on impairment under IFRS?

A. £18,000

B. £23,000

C. £41,000

D. - 0 -

Answer rating: 100% (QA)

Option A 18000 As per IAS 36 Impairment of asset imapirment exists if the Carrying value of the ... View the full answer