Impairment testing

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October 18, 2016 at 5:25 pm #344765
nari
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Hello

As per IAS 36, goodwill or the CGU that goodwill has been allocated to has to be tested annually. My question is for a non current asset which does not involve goodwill, should it be tested every year for impairment or should it only be tested when conditions for impairment are present?
October 18, 2016 at 9:46 pm #344841
P2-D2
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Hi,

Non-current assets will be subject to an impairment review if there is an indicator (external or internal) of an impairment.

Just be aware though of intangible non-current assets with indefinite lives as they need to be assessed annually for impairment.

Thanks
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