Discuss Accounting for the Impairment of Assets as Outlined in IAS

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The Answer is The purpose of IAS No. 36 is to make sure that assets are carried at no more than their recoverable amount, and to define how the recoverable amount is calculated. IAS No. 36 requires an impairment loss to be recognized whenever the recoverable amount of an asset is less than its carrying amount (its book value). The recoverable amount of an asset is the higher of its net selling price and its value in use. Both are based on present-value calculations.

Discuss Accounting for the Impairment of Assets as Outlined in IAS

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Discuss Accounting for the Impairment of Assets as Outlined in IAS

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