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Intangible assets-impairment

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Intangible assets-impairment

  • This topic has 3 replies, 2 voices, and was last updated 15 years ago by AvatarMikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 16, 2010 at 11:20 pm #46036
    Avatarvalentinat171
    Member
    • Topics: 18
    • Replies: 33
    • ☆☆

    Dear Tutor,
    There are intangible assets that have indefinite life and also tangible assets that have definite life. Must we test both kind of assets for impairment every year?
    Many thanks,
    Valentina

    November 17, 2010 at 4:38 pm #70899
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    yes

    November 21, 2010 at 11:34 pm #70900
    Avatarvalentinat171
    Member
    • Topics: 18
    • Replies: 33
    • ☆☆

    I thought we should only test goodwill and intangible assets with indefinite life annually for impairment. I thought tangible assets are only tested for impairment when there are indicators. Am I wrong?

    November 23, 2010 at 10:31 pm #70901
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    no, you’re not wrong – but I suppose you could say that “signs / indicators of impairment should be considered each year”

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