Wellcom_FY11-Financial-Report

37 wellcom group limited notes to the consolidated

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Unformatted text preview: scount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. 37 Wellcom Group Limited Notes to the Consolidated Financial Statements 2. Summary of significant accounting policies (continued) For personal use only q) Impairment of assets (continued) If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised in profit or loss immediately. Where an impairment loss subsequently reverses, the carrying amount of the asset (cash-generating unit) is increased to the revised estimate of its recoverable amount, but only to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash-generating unit) in prior years. A reversal of an impairment loss is recognised in profit or loss immediately. r) Income tax Cur...
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This document was uploaded on 02/06/2014.

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