Let’s summarize the impairment of investments (held to mat., ava. for sale, trading), goodwill, inventory and other assets and whether it is allowed to reverse previously recognized impairment losses under both IFRS and US GAAP…
Impairment - IFRS HTM - Recognized in P/L (could be reversed) AFS - Cumulative loss in I/S (cannot be reversed) (Only in AFS debt securities it could be reversed) Cumulative loss = Acquisition cost (net of principal payments and amortization) - cusrrent fair value - any impairment loss GAAP HTM - Income statement AFS - Income statement
No reversal of impairment is allowed for goodwill under either method.