U.S. GAAP, like IFRS, permits write-up for subsequent recoveries of impairment, back up to the original amount before the impairment in all circumstances.

Question

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U.S. GAAP does not generally allow the reversal of impairment losses for assets held for use, whereas IFRS permits the reversal of impairment losses if the recoverable amount of an asset increases.

US GAAP, Like IFRS, Permits Write-Up for Subsequent Recoveries of Impairment