For INITIAL measurement identify the initial valuation criteria and for SUBSEQUENT measurement identify the situation requiring the subsequent measurement and the ongoing valuation basis.

a) Events or changes in circumstances indicate that the book value of the asset or asset group may not be recoverable

b) Events or changes in circumstances indicate that the book value of the asset or asset group is temporarily too low.

c) Management believes that the assets or asset group have been undervalued by the market

d) Management realizes that assets were incorrectly recorded in prior periods and corrections are necessary.

2. The valid measurement approaches

a) are the same across asset categories

b) do not vary between USGAAP and IFRS

c) differ between assets to be held and used, indefinite-lived intangible assets, goodwill, and assets available for sale as well as differ between USGAAP and IFRS

d) include the possibility for reversal in all cases if conditions change.