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Ejoy – BPP P&R KIT, Q40 – Impaiment of asset held for sale

Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › Ejoy – BPP P&R KIT, Q40 – Impaiment of asset held for sale

  • This topic has 1 reply, 2 voices, and was last updated 11 years ago by Bei.
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  • November 26, 2013 at 11:28 am #147897
    thomas85
    Member
    • Topics: 6
    • Replies: 6
    • ☆

    Hi,

    I have one short question on “Ejoy”.

    “Tbay” is an asset held for sale. However, in the calculation of the impairment of “Tbay”, the recoverable amount used is the value in use. My understanding was that under IFRS 5, only the fair value less costs of disposal can be used as recoverable amount and not the value in use. Can anybody explain this to me?

    Thanks a lot in advance.
    Thomas

    November 28, 2013 at 11:21 pm #148387
    Bei
    Member
    • Topics: 1
    • Replies: 2
    • ☆

    IAS 36 impairment of assets requires an entity to recognise an impairment loss when assets’ recoverable amount is lower than it’s carrying value, and recoverable amount is higher of net realisable value (FV less cost to sell) and value in use.

    I guess the value in use must be the higher amount in this case.

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