https://www.taxtmi.com/acts?id=14700 Prescribes that assets be carried at no more than recoverable amount, defined as the higher of net selling price and value in use, and requires entities to assess indicators of impairment each balance sheet date. If indicators exist, estimate recoverable amount for the asset or the cash generating unit; recognise impairment losses when carrying amount exceeds recoverable amount and adjust future depreciation. Impairment losses are allocated to goodwill first and then to other assets pro rata; reversals are permitted when estimates change, subject to restoration limits. Material impairments and reversals require specified disclosures. en-us Sat, 04 Jun 2011 18:04:47 +0530 Thu, 17 Sep 2015 22:30:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=14700 Prescribes that assets be carried at no more than recoverable amount, defined as the higher of net selling price and value in use, and requires entities to assess indicators of impairment each balance sheet date. If indicators exist, estimate recoverable amount for the asset or the cash generating unit; recognise impairment losses when carrying amount exceeds recoverable amount and adjust future depreciation. Impairment losses are allocated to goodwill first and then to other assets pro rata; reversals are permitted when estimates change, subject to restoration limits. Material impairments and reversals require specified disclosures. Act-Rules Companies Law Sat, 04 Jun 2011 18:04:47 +0530 https://www.taxtmi.com/acts?id=14700