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. Note You are not required to describe the indicators of an impairment or how impairment losses are allocated aqainst assets
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. Note You are not required to describe the indicators of an impairment or how impairment losses are allocated aqainst assets
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter12: Auditing Long-lived Assets And Merger And Acquisition Activity
Section: Chapter Questions
Problem 16CYBK
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![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.
Note You are not required to describe the indicators of an impairment or how impairment losses are allocated
against assets](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faa39321b-0422-4fde-ba84-768dbcf801ad%2Fbed53aa6-4af6-4592-b9f6-dc5ee1721d2d%2Frjhhyob_processed.png&w=3840&q=75)
Transcribed Image Text: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.
Note You are not required to describe the indicators of an impairment or how impairment losses are allocated
against assets
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