![]() ![]() IAS 36 applies to all assets except those for which other Standards address impairment. IAS 36 also applies to groups of assets that do not generate cash flows individually (known as cash-generating units). The entity must reduce the carrying amount of the asset to its recoverable amount, and recognise an impairment loss. ![]() If the carrying amount exceeds the recoverable amount, the asset is described as impaired. The core principle in IAS 36 is that an asset must not be carried in the financial statements at more than the highest amount to be recovered through its use or sale.
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