IAS 36 Impairment of Asset

I wouldn’t personally use the term advantages and disadvantages,but rather the term strengths and weaknesses since,in general, a standard is required to be applied by law or stock exchange rules in whatever country concerned.I would say the strengths are it recognises impairment and reduces asset base as a result of impairment.It also reduces distributable sodium as a result of impairment.Some of the disadvantages are that an appropriate rate of return must be chosen when applying the net realisable value calculation.This rate might be hard to establish as might the net realizable value of certain assets.