Question
Question 2 (a) The objective of IAS 36 Impairment of assets is to prescribe the procedures that an entity applies to ensure that its assets
Question 2 (a)
The objective of IAS 36 Impairment of assets is to prescribe the procedures that an entity applies to ensure that its assets are not impaired.
Required
Explain what is meant by an impairment review. Your answer should include reference to assets that may form a cash generating unit. You are not required to describe the indicators of an impairment or how losses are allocated against assets. (8 marks)
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Core Concepts of Accounting Information Systems
Authors: Mark G. Simkin, Jacob M. Rose, Carolyn S. Norman
12th edition
1118022300, 978-1118022306
