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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Intangible assets-impairment
Dear Tutor,
There are intangible assets that have indefinite life and also tangible assets that have definite life. Must we test both kind of assets for impairment every year?
Many thanks,
Valentina
yes
I thought we should only test goodwill and intangible assets with indefinite life annually for impairment. I thought tangible assets are only tested for impairment when there are indicators. Am I wrong?
no, you’re not wrong – but I suppose you could say that “signs / indicators of impairment should be considered each year”