IAS 36 has undergone no major changes since its publication in March 2004, apart from some amendments as part of the annual improvements process of existing standards. It is not, therefore, any current action by the IASB which now leads us to examine the principles set out in the standard, but rather the current economic crisis.
Though the 2008 financial year did not lead companies to recognise significant impairment losses on non-financial assets, the topic remains nevertheless sensitive and challenging. Indeed, the assumptions and estimates adopted by management may have a significant impact on the outcome of impairment testing.
The objective of this brochure is to list the main questions which arise and thus resolve a number of practical difficulties in the application of IAS 36.
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