How the economic crisis followed by the recession impact on IFRS financial reporting. Do companies need to reassess the book value of their assets?

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Posted by:
Abdul Majid Khatri
11-November-2020

Value Based Selling Assets Recovery Financial Reporting IFRS Economics

Question ajoutée par Sohail Kamran , Financial Controller , Amskor Corporation
Date de publication: 2015/11/22

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par MANISH JHA , HOD ACCOUNTS & FINANCE CASTING DIVISION , DUFLON INDUSTRIES PVT LTD

Yes as per IAS 36 Imapairment of Asset such a steep and fast decrease had an impact on the IFRS financial reporting. Companies showing assets in their accounts had to reassess their book value.

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How the economic crisis followed by the recession impact on IFRS financial reporting. Do companies need to reassess the book value of their assets?

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