We know that if PP&E are shown in BS under cost model (IFRS or US Gaap), impairment check has to be done annually.
Say PP&E are shown at FMV under IFRS. Then do we require impairment check?
We know that if PP&E are shown in BS under cost model (IFRS or US Gaap), impairment check has to be done annually.
Say PP&E are shown at FMV under IFRS. Then do we require impairment check?
No: reporting it at fair market value accounts for any impairment.
Do we measure the FMV at every year end for all assets and report those?
"Just curious "