Impairment of Assets: A guide to applying IAS 36 in practice

The Grant Thornton International IFRS team has published a new guide, Impairment of Assets: A guide to applying IAS 36 in practice.

This guide has been written to assist management in understanding the requirements of IAS 36 while highlighting some common areas of confusion seen in practice. More specifically, it:

• summarizes the overall objective and basic requirements of IAS 36;
• provides a step-by-step guide to performing an impairment assessment (including testing for an impairment and recording or reversing an impairment loss, when required in accordance with IAS 36);
• highlights interpretative and practical application issues that arise when performing these steps; and
• offers insights on best practices to address these issues.

Download the publication.