Can anyone please explain the concept of impairment under cost method of IFRS
Because I have a confusion whether the recoverable value under US GAAP holds the same definition under IFRS as well-
US GAAP states that first we have to compare the carrying value with the undiscounted cash flow i.e. the recoverable value to see whether impairment is required or not
Do this same definition of recoverable value comes under the cost method of IFRS?