review for impairment of assets
review for impairment of assets
Describe circumstances that may indicate that a company’s assets may have become impaired.
Define the impairment loss
When should companies carry out a review for impairment of assets?
IAS 37
Define the following terms relating to IAS 37.
(a) Contingent assets
(b) Liability
(c) Contingent liability
(d) Provision
