Question
An asset has a carrying amount (book value) of
₹2,00,000. Its recoverable amount, determined as the fair value less costs of disposal, is ₹1,80,000. What amount of impairment loss should be recognized in the financial statements?Solution
Step 1: Understand the Rule As per Ind AS 36 (Impairment of Assets) or IAS 36, an impairment loss is recognized when: Carrying Amount > Recoverable Amount Where: Recoverable Amount = max(Fair Value less Costs to Sell, Value in Use) In this question, the recoverable amount is given as ₹1,80,000 (based on fair value less costs). Step 2: Apply the Formula Impairment Loss = Carrying Amount - Recoverable Amount = ₹2,00,000 - ₹1,80,000 = ₹20,000
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