Impairment of Assets (Fixed Assets and Goodwill)

descriptionPublicationkeyboard_double_arrow_right Part of book or chapter of book , Other literature type 01 Jan 2018 English Publisher:Springer International Publishing

Authors: Martin Schwarzbichler; Christian Steiner; Daniel Turnheim;

doi: 10.1007/978-3-319-75762-9_8

Impairment of Assets (Fixed Assets and Goodwill)

- Summary
- Metrics

Abstract

The aim of IAS 36—impairment of assets—is to make sure that an asset which will be not able to recover that amount is impaired. In this regard, IAS 36.1 makes clear that an asset is carried at more than its recoverable amount if its carrying amount exceeds the amount to be recovered through use or sale of the asset. IAS 36.6 defines carrying amount as the amount at which an asset is recognised after deducting any accumulated depreciation. This concept is illustrated below:

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