IAS 36

As per IAS 36, an entity must asses at the end of each reporting period that whether there is any indication that asset may be impaired. Asset is said to be impaired when its carrying amount exceeds recoverable amount. If there is indication of impairment, then asset should be tested for impairment i.e its recoverable amount must be calculated and asset should be reduced to recoverable amount if carrying amount is higher than recoverable amount. Recoverable amount is higher of value in use and fair value less cost to sell. Value in use is preset value of all future cashflows. Any impairment loss should be recorded in PNL

Sir in the above para in the beginning I have written that as per IAS 36…. However I have not quoted exact words of standard, so would it be fine to write in our own words ?