Impairment losses must be assessed by companies on an annual basis.

Name: Impairment losses must be assessed by companies on an annual basis.
Brand: Quizplus
Rating: 4.7 (64 reviews)

Question

Quizplus · Accepted Answer

According to International Financial Reporting Standards (IFRS), companies are required to assess impairment losses of their assets annually, or more frequently if there are indicators of impairment. This assessment is necessary to determine if an asset's carrying amount exceeds its recoverable amount, and whether a write-down is necessary.

Impairment Losses Must Be Assessed by Companies on an Annual