Depreciation and impairment of PPE and intangible assets under ASPE differs from IFRS in the following key areas: ASPE depreciates assets at the higher of cost less salvage value over the life of the asset and cost less residual value over the useful life of the asset. IFRS does not ...
Exclusive Impairment of assets and non-current assets held for sale eBook chapter 2023 PKF International Ltd Wiley Interpretation and Application of IFRS Standards Updated edition providing a detailed reference guide with practical examples, and IFRIC interpretations and directions. This chapter discusses...
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IFRS: The model under IFRS for impairment of assets is based on the recoverable amount, which is defined as the higher of an asset’s fair value (less costs to sell) or its value in use (the present value of future cash flows expected from the asset). If the recoverable amount is low...
Some years ago, IFRS asked you to amortize goodwill, but no longer! You do NOT amortize goodwill. Instead, you need totest it for impairment annually, as the standardIAS 36 Impairment of Assetsrequires. Why is it so? Well, if an investor is willing to pay more than he gets, then he...