Impairment of AssetsImpairment of Assets

Impairment of Assets

B35 AASB 136 Impairment of Assets requires that an impairment loss be recognised if the recoverable amount has declined below carrying amount.

B36 This Standard requires that an entity apply the same impairment testing, recognition and reversal criteria at an interim date as it would at the end of its annual reporting period. That does not mean, however, that an entity must necessarily make a detailed impairment calculation at the end of each interim period. Rather, an entity will review for indications of significant impairment since the end of the most recent annual reporting period to determine whether such a calculation is needed.