IFRS allows reversal of impairment losses when there has been a change in economic conditions or in

IFRS allows reversal of impairment losses when there has been a change in economic conditions or in

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IFRS allows reversal of impairment losses when there has been a change in economic conditions or in the expected use of the asset. Under GAAP, impairment losses cannot be reversed for
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Unformatted text preview: assets to be held and used; the impairment loss results in a new cost basis for the asset. IFRS and GAAP are similar in the accounting for impairments of assets held for disposal....
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