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Impairment indicator in Business
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[QUOTE="Yakub02, post: 309456, member: 94426"] Stages in accounting for an impairment loss There are various stages in accounting for an impairment loss: Stage 1: Establish whether there is an indication of impairment. Stage 2: If so, assess the recoverable amount. Stage 3: Write down the affected asset (by the amount of the impairment) to its recoverable amount. Each of these stages will be considered in turn. Identifying impairment or possible impairment An entity must carry out an impairment review when there is evidence or an indication that impairment may have occurred. At the end of each reporting period, an entity should assess whether there is any indication that impairment might have occurred. If such an indication exists, the entity must estimate the recoverable amount of the asset, in order to establish whether impairment has occurred and if so, the amount of the impairment. Indicators of impairment The following are given by IAS 36 as possible indicators of impairment. These may be indicators outside the entity itself (external indicators), such as market factors and changes in the market. Alternatively, they may be internal indicators relating to the actual condition of the asset or the conditions of the entity’s business operations. When assessing whether there is an indication of impairment, IAS 36 requires that, as a minimum, the following sources are considered: [/QUOTE]
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