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Good day. please it is stated in the note that ” impairment is when the CV falls below the RA”. please confirm the correctness as am used to reading that it is “when CV is higher than the RA”,
This fact is followed in the worked example 5 (pg 120) where:
CV = 40m
FVLCTS = 36m
VIU = 38m
Impairment = 2mThank you.
imaikop
Hi,
I’ll double check the notes but yes you’re correct in that for there to be an impairment the carrying value has to be greater than the recoverable amount.
Thanks
Can a reversal in an Impairment loss be only to the extend to the CV of an asset had the impairment loss was not incurred?or the reversal could be more then loss i-e what if the recoverable amount gets even greater then the CV?
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