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Hi, does ias 36 applies to Current assets…..as according to definition they says ias 36 applies to all assets accept for those dealing within there own respected standards which is almost every current assets are covered in those standards like ifrs 9 (financial assets i.e receivable payable)
inventory (ias 2) cash ……
THE POINT IS can we say that ias 36 only applies to non current assets only?Hi,
You can’t look at IAS 36 as dealing with current/non-current assets, it looks at all assets except where another standard takes precedence. Yes, most of the time it will result in looking at intangibles and PPE, which are non-current assets, but we must follow the terminology given in the standard.
Thanks
got it sir ….just for the sake of differentiation can you give me one example of current asset specifically dealing within ias 36
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