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Ask the Tutor ACCA FR

Current assets impairment

ASalawi sayed5y ago
Hello Sir, Is there any chance that the current assets can be impaired or never, Thanks,
UUSAMA5y ago#1
No current assets are impaired according to their relevant standards like inventory IAS-2 so there is a rule of lower of cost or NRV
ASalawi sayed5y ago#2
Thanks for clearing the point.
P2-D2P2-D2Tutor5y ago#3
Yes, as well as inventory, other current assets such as receivables (financial assets) will be covered by their relevant standard (IAS39/IFRS9).
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