IAS36_06 - IAS 36 International Accounting Standard 36...

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IAS 36 © IASCF 1449 International Accounting Standard 36 Impairment of Assets This version includes amendments resulting from new and amended IFRSs issued up to 31 December 2005.
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IAS 36 1450 © IASCF C ONTENTS paragraphs INTRODUCTION IN1–IN18 INTERNATIONAL ACCOUNTING STANDARD 36 IMPAIRMENT OF ASSETS OBJECTIVE 1 SCOPE 2–5 DEFINITIONS 6 IDENTIFYING AN ASSET THAT MAY BE IMPAIRED 7–17 MEASURING RECOVERABLE AMOUNT 18–57 Measuring the recoverable amount of an intangible asset with an indefinite useful life 24 Fair value less costs to sell 25–29 Value in use 30–57 Basis for estimates of future cash flows 33–38 Composition of estimates of future cash flows 39–53 Foreign currency future cash flows 54 Discount rate 55–57 RECOGNISING AND MEASURING AN IMPAIRMENT LOSS 58–64 CASH-GENERATING UNITS AND GOODWILL 65–108 Identifying the cash-generating unit to which an asset belongs 66–73 Recoverable amount and carrying amount of a cash-generating unit 74–103 Goodwill 80–99 Allocating goodwill to cash-generating units 80–87 Testing cash-generating units with goodwill for impairment 88–90 Minority interest 91–95 Timing of impairment tests 96–99 Corporate assets 100–103 Impairment loss for a cash-generating unit 104–108 REVERSING AN IMPAIRMENT LOSS 109–125 Reversing an impairment loss for an individual asset 117–121 Reversing an impairment loss for a cash-generating unit 122–123 Reversing an impairment loss for goodwill 124–125 DISCLOSURE 126–137 Estimates used to measure recoverable amounts of cash-generating units containing goodwill or intangible assets with indefinite useful lives 134–137 TRANSITIONAL PROVISIONS AND EFFECTIVE DATE 138–140 WITHDRAWAL OF IAS 36 (ISSUED 1998) 141 APPENDICES A Using present value techniques to measure value in use B Amendment to IAS 16
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IAS 36 © IASCF 1451 APPROVAL OF IAS 36 BY THE BOARD BASIS FOR CONCLUSIONS DISSENTING OPINIONS ILLUSTRATIVE EXAMPLES
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IAS 36 1452 © IASCF International Accounting Standard 36 Impairment of Assets (IAS 36) is set out in paragraphs 1–141 and Appendices A and B. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 36 should be read in the context of its objective and the Basis for Conclusions, the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements . IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.
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IAS 36 © IASCF 1453 Introduction IN1 International Accounting Standard 36 Impairment of Assets (IAS 36) replaces IAS 36 Impairment of Assets (issued in 1998), and should be applied: (a) on acquisition to goodwill and intangible assets acquired in business combinations for which the agreement date is on or after 31 March 2004.
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This note was uploaded on 06/12/2011 for the course ECON 801 taught by Professor Brend during the Summer '11 term at Abu Dhabi University.

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IAS36_06 - IAS 36 International Accounting Standard 36...

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