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Hi
Why would incurred loss model be criticised that it overstates assets and profits? I thought the incurred loss model means to write off something. i.e recievables written off, then how could this overstate the assets etc.
thank you
Hi Karen
I’m looking for where you have read “incurred loss model” and that it’s being criticised
Do you want to give me a reference?
Hi Karen
Is that not clearly explained in the first paragraph? That an impairment review is only necessary when there has been an event which suggests that an impairment may have resulted. So, unless there is such an event, we don’t consider fair values
OK
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