IAS 36 Impairment of Asset

Do there have to be any advantages and / or disadvantages?

The principal point of any IAS / IFRS is the word represented by the letter S … Standard

Each and every IAS ? IFRS attempts to standardise accounting treatment

In that way financial statements become more consistent, comparable, harmonised and, yes, standardised

But these are advantages not just for companies but for all stakeholders of all companies, knowing that the companies’ financial statements are all based on similar, standard foundations

I suppose that you might claim as a disadvantage the fact that such standardisation removes the possibilities of innovation and flexibility

But, in the interests of comparability and consistency, surely their removal is a good thing

OK?