Previously written-off assets are allowed to be reinstated under IAS 36 Impairment of Assets.

Question

Quizplus · Accepted Answer

According to IAS 36, previously recognized impairment losses for assets can be reversed if there has been a change in the estimates or circumstances that led to the impairment. This means that previously written-off assets can be reinstated if the impairment is shown to no longer exist, as long as specific criteria are met.

Previously Written-Off Assets Are Allowed to Be Reinstated Under IAS