ANALYSIS: AMENDMENTS TO IMPAIRMENT STANDARDS

Since adopting the Standards of Generally Recognised Accounting Practice (GRAP) on impairment of assets, stakeholders shared practical challenges on the application of those standards with the Accounting Standards Board. This article discusses these challenges and steps taken by the board to respond to those challenges GRAP 21, Impairment¬†¬† Non-Cash-Generating Assets, and GRAP 26, Impairment of…