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of <h1>Ind AS 36: Procedures for Asset Impairment, Testing for Goodwill, Intangibles, and Required Disclosures on Losses and Reversals.</h1> Ind AS 36 outlines procedures for ensuring that assets are not carried at more than their recoverable amount, identifying impairment, and recognizing or reversing impairment losses. The standard excludes specific assets like inventories, deferred tax assets, and financial instruments under Ind AS 109. It applies to assets within cash-generating units, requiring annual impairment tests for goodwill and intangible assets with indefinite useful lives. The standard prescribes methods for measuring recoverable amounts, including fair value less costs of disposal and value in use, and mandates disclosures on impairment losses and reversals. It emphasizes the importance of consistent application and disclosure of assumptions used in impairment testing.
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