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IAS 36 Impairment of Asset

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › IAS 36 Impairment of Asset

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by mrjonbain.
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  • June 29, 2017 at 10:47 am #394310
    karenx
    Member
    • Topics: 2
    • Replies: 0
    • ☆

    Hi, can you share your opinions about the advantages and disadvantages of standard IAS 36 Impairment of Asset for companies?

    July 1, 2017 at 3:43 pm #394484
    mrjonbain
    Moderator
    • Topics: 6
    • Replies: 2487
    • ☆☆☆☆☆

    I wouldn’t personally use the term advantages and disadvantages,but rather the term strengths and weaknesses since,in general, a standard is required to be applied by law or stock exchange rules in whatever country concerned.I would say the strengths are it recognises impairment and reduces asset base as a result of impairment.It also reduces distributable sodium as a result of impairment.Some of the disadvantages are that an appropriate rate of return must be chosen when applying the net realisable value calculation.This rate might be hard to establish as might the net realizable value of certain assets.

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