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Sir,
i was stuck in revaluation/impairment/recoverable amount/carrying amount. then some finding from web i concluded myself for my own ease to use and to understand the impact of impairment. i concluded this formula for deciding to use impairment or not
Pleae correctme if i am not formalated this corretly to impairment decision
Impairment = carrying amount (that is revalue/cost model) > Recoverable amount (that is higher of fair value or value in use)
No-Impairment = carrying amount (that is revalue/cost model) < Recoverable amount(that is higher of fair value or value in use)
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