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These assets are necessary for Realising economic benefit from other assets. In reviewing for impairment, is it that both should be together as a single asset but are recognised as seperate assets otherwise
I would have thought that they should be considered separately ( there’s “a rat” in sepARATe) all the time.
Even if there are indications of impairment such as a fall in second hand values, a rise in interest rates or a reduction in production levels, there’s still a need for safety equipment.
If the entire operation is being cut back then, I suppose, ok, impair. But even so these assets would be considered as a separate asset.
I think!
Ideally I would like to know the detail of the client, its operations, its assets and the nature of the business but, without that knowledge, you have my thoughts above
Hope that helps
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