Skip to content

CMA Final · Corporate Financial Reporting · Impairment of Assets (Ind AS 36)

Paragraphs 25-27 and paragraph 5(b) of Ind AS 36 have been deleted. According to the comparison with IAS 36, what is the reason?

They were deleted as a consequence of Ind AS 113, Fair Value Measurement, which now governs fair value measurement. The paragraph numbering is retained to stay consistent with IAS 36. Other reasons given relate to different paragraphs, such as 2(f) or the transitional provisions.

  1. AInd AS 40 requires the cost model
  2. BInd AS 101 contains the transitional provisions
  3. CThese are consequential deletions because of Ind AS 113, Fair Value Measurement, with numbering retainedCorrect
  4. DThey referred to illustrative examples that are not integral to the standard

Explanation

The comparison states that paragraph 5(b) and paragraphs 25-27 were deleted as a consequence of Ind AS 113, Fair Value Measurement. Numbering is retained for consistency with IAS 36. The Ind AS 40 reason relates to paragraph 2(f), and the Ind AS 101 reason relates to transitional provisions.

Did you get it right without looking?

One question tells you little. A timed set on Impairment of Assets (Ind AS 36) shows your real accuracy, how long you take and where you lose marks.

Practise Impairment of Assets (Ind AS 36)Free diagnostic mock

More Impairment of Assets (Ind AS 36) questions