IFRS Disclosure Requirements for Asset Impairment
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What information should an entity disclose regarding impairment losses on revalued assets recognized in profit or loss during the period?

  • The amount of impairment losses on revalued assets and the line item(s) in the statement of comprehensive income where they are included (correct)
  • The amount of reversals of impairment losses on revalued assets recognized in other comprehensive income
  • The amount of reversals of impairment losses on revalued assets and the line item(s) in the statement of comprehensive income where they are reversed
  • The amount of impairment losses on revalued assets recognized in other comprehensive income

    • How should a class of assets be defined according to the text?

  • A grouping of different types of assets in an entity's operations
  • A grouping of assets with similar nature and use in an entity's operations (correct)
  • A grouping of assets with different uses but similar natures
  • A grouping of assets with different natures but similar uses

    • In what circumstances can the information required in paragraph 126 be presented along with other information for the class of assets?

  • Only when preparing financial statements for external stakeholders
  • When there are no changes in the class of assets during the reporting period
  • Only when there are no other disclosures required for the class of assets
  • When presenting a reconciliation of the carrying amount of property, plant and equipment per IAS 16 (correct)

    • What specific disclosure is required for each reportable segment when an entity reports segment information in accordance with IFRS 8?

    <p>Impairment losses recognized in profit or loss and in other comprehensive income during the period (B)</p> Signup and view all the answers

    Where should an entity disclose impairment losses recognized in profit or loss during the period?

    <p>In the statement of comprehensive income (B)</p> Signup and view all the answers

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