Impairment of Assets..

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 June 2011 Hello All,

I want to about testing for impairment of assets.

What is to done for impairment testing.

Please reply..

Regards,

AK.

Vivek Raju P

Vivek Raju P (Expert)
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15 June 2011 This is a sweping question and cannot be explained over post, suggest you refer AS 28 or IAS 36 on this topic which provides exhaustive guidance. Further annual reports of some European listed companies also elaborate on this topic

Pankaj Gandhi Jaiswal

Pankaj Gandhi Jaiswal (Expert)
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15 June 2011 Testing for impairment of asset means evaluation process to judge the value as on balance sheet date and the carrying value is more than the assessed value means there is impairement in assets and then recognize the difference as a loss

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Querist : Anonymous

Querist : Anonymous (Querist)

15 June 2011 Thanks a lot...

But i also want to know.. how to test for the impairment of assets..??

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2011 is there any format for testing of impairment of asstes.