Impairment of Intangible Assets
Code: 1236
👁 Views: 120
Account Information
| Financial Statement | Statement of Financial Position |
| Normal Balance | Credit |
Definition
Allowance...
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IAS 36
Impairment of Assets
US GAAP
ASC 360
Impairment of Long-Lived Assets
❓ Frequently Asked Questions
Q: What is impairment of intangible assets?
A: A contra-asset account shown as a deduction from intangible assets, representing losses from a decline in their value below carrying amount.
Q: Can this allowance be reversed?
A: Under IFRS, it can be reversed if conditions improve. Under GAAP, it cannot be reversed.