Hello, although clearly there are no such thing as “impairment gains”, when it is found that recoverable amount is greater than the carrying value, does it lead to getting the services of a professional valuer in order to determine the revaluation gain and update the SFP?
No, if the recoverable amount is greater than the carrying value then it is saying that there is no impairment. We therefore leave the asset as its current carrying value and continue to depreciate.