Impairment effect on the IS, BS, CFS

I am confusing impairments, previously I thought impairment charges were added to COGS (and future revaluations subtracted COGS), now I am reading they are direct losses on the IS, I assume before taxes (they do not reduce taxes, right?, they only create a DTA, so they are expected to reverse? I thought impairments do not make tax benefits…)

On the BS there is a new value for the asset. On the CFS gains are subtracted and losses are added to arrive to CFO.

For IFRS, when there is a revaluation on the asset, the gains are recognized on the IS up to the previous amount of the loss, any subsequent gain goes to equity directly, right? (where to specifically?, to accumulated other comprehensive income?)

If I change my asset from held for use and held for sale, GAAP allows revaluation, but I assume following the same rule I explained earlier (up to the previous loss amount, other gain goes directly to equity).

P.D. If a classify my asset to held for sale, I will not recognize any depreciation or amortisation any more, right? what other effects are on the statements???

Thank you very much guys, you have had a lot of patience on me, very very much appreciated.

Writing off obsolete or damaged Inventories is also part of GP thus may appear in COGS. It’s commonly proceeded through a counter Inventory account. Whether such losses can be used or not for a tax purpose primarily depends on legislative in each country. Common case is that is specified in advance by tax laws the upper limit of tax deductible allowance.

Cannot understand what is the point?

No. The revaluation reserve for particular LTA is initially recognized as an equity item through OCI. Subsequent downside measures are booked through OCI until revaluation reserve would be spent. The amount of losses over previously formed revaluation reserve account must be proceeded through PL.

As I know USGAAPs does not permit an asset revaluation if we are talking about fixed assets. If we are talking about financial assets the methodology is not the same nor is covered by the same GAAP.

You meant reclassifying fixed income instruments from HTM to AFS? The initial recognizing is an asset fair value at the moment of reclassifying. The effects by subsequent measure is recognizing gains and losses in fair value through equity (OCI) rather than through P/L. If you meant on reclassifying to HFT (FVtPL) category, the initial recognizing is the same as described above with key difference in subsequent recognizing gains and losses in a fair value through P/L rather than through OCI as it was described in case of AFS securities.