Find out about the latest International Financial Reporting Standards (IFRS) developments and read articles from our IFRS specialists.
The greater risk of impairment in today's market conditions
Entities are likely to record impairments for the first time under the new standards at June 2008. The changes to market conditions have meant that impairment test triggers are all around us. This will impact entities that identify triggers that indicate their assets may be impaired (ie, due to increased interest rates or a significant decline in the asset’s value). These entities must conduct an impairment test. It has a potential impact on these entities' profit and loss statements, balance sheets, disclosure obligations, and communication with their stakeholders.
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