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Current assets impairment

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Current assets impairment

Viewing 4 posts - 1 through 4 (of 4 total)
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  • June 15, 2021 at 8:16 pm #625361
    alawi sayed
    Participant
    • Topics: 314
    • Replies: 365
    • ☆☆☆☆

    Hello Sir,

    Is there any chance that the current assets can be impaired or never,

    Thanks,

    June 18, 2021 at 6:43 am #625415
    usamasafdar
    Member
    • Topics: 0
    • Replies: 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

    June 18, 2021 at 7:51 pm #625725
    alawi sayed
    Participant
    • Topics: 314
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    • ☆☆☆☆

    Thanks for clearing the point.

    June 19, 2021 at 7:55 am #625774
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7228
    • ☆☆☆☆☆

    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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