Publication Details
Issue: Vol 6, No 7 (2023)
Pages: 44-47
ISSN: 2576-5973

Abstract

The primary objective of an International Standard is to establish the procedures that an entity uses to account for its assets at a value not greater than their recoverable amount. If the carrying amount of an asset exceeds the amount that would be recovered from its use or sale, the asset is characterized as impaired and the standard requires the entity to recognize an impairment loss.

Keywords
External sources internal sources recoverable amount value of use fair value impairment of assets