|
In this newsletter, we look at the following topic:
HKAS 36 Impairment - frequently asked questions (Part I)
Accounting for impairments is not straight-forward. There are many complexities, including detailed requirements about identifying the assets to be tested, the frequency of testing, measuring the impairment and making the required disclosures.
Impairments not only occur to goodwill, they can affect the carrying value of other intangible and tangible fixed assets. The requirements regarding the testing for impairment of goodwill and other assets differ. This adds to the difficulty in applying the strict requirements of HKAS 36 Impairment of Assets.
This newsletter contains frequently asked questions structured around the typical impairment process. They address issues arising at each stage in the process, with reference to the guidance in the standard.
Get Your Copy Here
Read more by downloading our HKFRS News - May 2007 (pdf file, 111KB) for your reference.
Note: HKFRS has converged with IFRS effective from 1 January 2005. Contents contained in this newsletter are relevant to both HKFRS preparers and IFRS preparers. Other Issues of HKFRS News
Accounting and Listing Rules Updates. |
