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TAX EXPENSE (TAX SAVING)

AGGREGATE OF CURRENT TAX & DEFERRED TAX



DEFERRED TAX
TAX EFFECT OF TIMING DIFFERENCES
TIMING DIFFERENCES
DIFFERENCES BETWEEN TAXABLE INCOME & ACCOUNTING INCOME
FOR A PERIOD THAT ORIGINATE IN ONE PERIOD & ARE CAPABLE OF
REVERSAL IN ONE OR MORE SUBSEQUENT PERIODS
PERMANENT DIFFERENCES
DIFFERENCES BETWEEN TAXABLE & ACCOUNTING INCOME FOR A PERIOD
THAT ORIGINATE IN ONE PERIOD & DO NOT REVERSE SUBSEQUENTLY

DEFINITIONS
TIMING DIFFERENCES ARISE BECAUSE THE PERIOD IN WHICH
SOME ITEMS OF REVENUE & EXPENSES ARE INCLUDED IN
TAXABLE INCOME DO NOT COINCIDE WITH THE PERIOD IN WHICH
SUCH ITEMS OF REVENUE & EXPENSES ARE INCLUDED OR CONSIDERED
IN ARRIVING AT ACCOUNTING INCOME
UNABSORBED DEPRECIATION & CARRY FORWARD OF LOSSES
WHICH CAN BE SET- OFF AGAINST FUTURE TAXABLE INCOME
ARE ALSO CONSIDERED AS TIMING DIFFERENCES AND RESULT IN
DEFERRED TAX ASSETS, SUBJECT TO CONSIDERATION OF PRUDENCE
TIMING DIFFERENCES
THE DIFFERENCES BETWEEN TAXABLE & ACCOUNTING INCOME
CAN BE CLASSIFIED INTO PERMANENT & TIMING DIFFERENCES.
RECOGNITION
TAX EXPENSE FOR THE PERIOD, COMPRISING
CURRENT TAX & DEFERRED TAX, SHOULD BE INCLUDED
IN DETERMINATION OF THE NET PROFIT OR LOSS FOR THE PERIOD
TAX EFFECT OF A TIMING DIFFERENCE THAT RESULTS IN A
DEFERRED TAX ASSET IS AN EXPENSE PROVIDED IN P & L BUT
NOT ALLOWED AS A DEDUCTION
THIS WILL REVERSE WHEN DEDUCTION IS ALLOWED IN FUTURE YEARS.
TAX EFFECT OF A TIMING DIFFERENCE THAT RESULTS IN A
DEFERRED TAX LIABILITY IS THE HIGHER CHARGE OF DEPRECIATION
ALLOWABLE COMPARED TO THE DEPRECIATION PROVIDED IN P & L
THIS WILL REVERSE WHEN DEDUCTION IS ALLOWED IN FUTURE YEARS.
PERMANENT DIFFERENCES DO NOT RESULT IN
DEFERRED TAX ASSETS OR DEFERRED TAX LIABILITIES.
RECOGNITION
THE DEFERRED TAX DUE TO TIMING DIFFERENCES WHICH REVERSE
DURING TAX HOLIDAY PERIOD IS NOT RECOGNISED TO THE EXTENT
GROSS TOTAL INCOME IS SUBJECT TO THE DEDUCTION
IF PREVIOUS CALCULATIONS SHOW THAT RECOVERABLE
AMOUNT IS GREATER THAN ITS CARRYING AMOUNT,
THE ENTERPRISE NEED NOT RE-ESTIMATE
IF NO EVENTS OCCURRED TO ELIMINATE THAT DIFFERENCE.
IF PREVIOUS ANALYSIS MAY SHOW THAT RECOVERABLE AMOUNT
IS NOT SENSITIVE TO ONE (OR MORE) OF THE INDICATIONS.
IF THERE IS AN INDICATION THAT AN ASSET MAY BE IMPAIRED,
THIS MAY INDICATE THAT THE REMAINING USEFUL LIFE,
THE DEPRECIATION METHOD OR THE RESIDUAL VALUE
TO BE REVIEWED & ADJUSTED UNDER THE AS APPLICABLE,
EVEN IF NO IMPAIRMENT LOSS IS RECOGNISED FOR THE ASSET.
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
INTERNAL SOURCES OF INFORMATION
IF EITHER OF NET SELLING PRICE AND ITS VALUE IN USE
EXCEEDS CARRYING AMOUNT, THE ASSET IS NOT IMPAIRED &
NEED NOT ESTIMATE THE OTHER AMOUNT.
IF NOT POSSIBLE TO DETERMINE NET SELLING PRICE,
THEN THE RECOVERABLE AMOUNT OF THE ASSET
MAY BE TAKEN TO BE ITS VALUE IN USE.
IF THERE IS NO REASON TO BELIEVE
VALUE IN USE MATERIALLY EXCEEDS ITS NET SELLING PRICE,
RECOVERABLE AMOUNT MAY BE TAKEN AS NET SELLING PRICE.
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
MEASUREMENT OF RECOVERABLE AMOUNT
PRICE IN THE BINDING SALE AGREEMENT
NO BINDING SALE AGREEMENT, BUT HAS AN ACTIVE MARKET
MARKET PRICE COSTS OF DISPOSAL
WHERE MARKET PRICE IS CURRENT BID PRICE &
WHERE CURRENT BID PRICE IS UNAVAILABLE,
PRICE OF THE MOST RECENT TRANSACTION
(ONLY IF THERE HAS NOT BEEN A SIGNIFICANT CHANGE
IN ECONOMIC CIRCUMSTANCES BETWEEN
THE TRANSACTION DATE & THE DATE OF ESTIMATE).
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
NET SELLING PRICE
NO BINDING SALE AGREEMENT OR ACTIVE MARKET
THE AMOUNT THAT AN ENTERPRISE COULD OBTAIN IN AN
ARMS LENGTH TRANSACTION BETWEEN KNOWLEDGEABLE,
WILLING PARTIES, AFTER DEDUCTING THE COSTS OF DISPOSAL
NET SELLING PRICE DOES NOT REFLECT A FORCED SALE,
UNLESS MANAGEMENT IS COMPELLED TO SELL IMMEDIATELY.
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
NET SELLING PRICE
IN MEASURING VALUE IN USE
CF PROJECTIONS BASED ON REASONABLE ASSUMPTIONS
BEST ESTIMATE OF THE SET OF ECONOMIC CONDITIONS
EXIST OVER THE REMAINING USEFUL LIFE OF THE ASSET.
GREATER WEIGHT GIVEN TO EXTERNAL EVIDENCE

CF PROJECTIONS BASED ON RECENT FINANCIAL BUDGETS
PROJECTIONS FOR A MAXIMUM PERIOD OF 5 YEARS,

CF PROJECTIONS BEYOND THE PERIOD SHOULD BE ESTIMATED
EXTRAPOLATING THE PROJECTIONS USING
A STEADY OR DECLINING GROWTH RATE,
THIS GROWTH RATE SHOULD NOT EXCEED THE
LONG-TERM AVERAGE GROWTH RATE
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
BASIS FOR ESTIMATES OF FUTURE CASH FLOWS
DETAILED, EXPLICIT & RELIABLE FINANCIAL BUDGETS
FOR MORE THAN 5 YEARS ARE NOT AVAILABLE
MAY USE FINANCIAL BUDGETS FOR MORE THAN 5 YEARS
IF CONFIDENT THAT THESE PROJECTIONS ARE RELIABLE &
CAN DEMONSTRATE ITS ABILITY, BASED ON PAST EXPERIENCE,
TO FORECAST CFs ACCURATELY OVER THAT LONGER PERIOD
FAVOURABLE CONDITIONS, COMPETITORS ARE LIKELY
TO ENTER THE MARKET & RESTRICT GROWTH.
DIFFICULT TO EXCEED AVERAGE GROWTH OVER LONG TERM
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
BASIS FOR ESTIMATES OF FUTURE CASH FLOWS
ESTIMATES OF FUTURE CFs & THE DISCOUNT RATE REFLECT
PRICE INCREASES DUE TO GENERAL INFLATION.
IF DISCOUNT RATE INCLUDES SUCH EFFECT
FUTURE CFs ARE ESTIMATED IN NOMINAL TERMS.
IF DISCOUNT RATE EXCLUDES SUCH EFFECT
FUTURE CFs ARE ESTIMATED IN REAL TERMS BUT INCLUDE
FUTURE SPECIFIC PRICE INCREASES OR DECREASES.
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
COMPOSITION OF ESTIMATES OF FUTURE CASH FLOWS
PROJECTIONS OF CASH OUTFLOWS INCLUDE
FUTURE OVERHEADS THAT CAN BE ATTRIBUTED DIRECTLY,
OR ALLOCATED ON A REASONABLE & CONSISTENT BASIS,
TO THE USE OF THE ASSET.
CARRYING AMOUNT OF AN ASSET UNDER CONSTRUCTION
ESTIMATE OF FUTURE CFs INCLUDES AN ESTIMATE OF
FURTHER CASH OUTFLOW TO BE INCURRED
BEFORE THE ASSET IS READY FOR USE OR SALE.
ESTIMATES OF FUTURE CASH FLOWS DO NOT INCLUDE
LARGELY INDEPENDENT CASH INFLOWS
CASH OUTFLOWS ALREADY BEEN RECOGNISED AS LIABILITIES
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
COMPOSITION OF ESTIMATES OF FUTURE CASH FLOWS
ESTIMATES OF FUTURE CASH FLOWS SHOULD NOT INCLUDE
A FUTURE RESTRUCTURING NOT YET COMMITTED
FUTURE CAPITAL EXPENDITURE TO ENHANCE PERFORMANCE
THE SAME WILL NOT BE REFLECTED IN VALUE IN USE
RESTRUCTURING PROGRAMME IS PLANNED AND CONTROLLED
BY MANAGEMENT AND THAT MATERIALLY CHANGES
EITHER THE SCOPE OF BUSINESS OR ITS MANNER
ESTIMATES OF FUTURE CASH FLOWS SHOULD NOT INCLUDE
CASH INFLOWS OR OUTFLOWS FROM FINANCING ACTIVITIES
INCOME TAX RECEIPTS OR PAYMENTS
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
COMPOSITION OF ESTIMATES OF FUTURE CASH FLOWS
IN ESTIMATING NET CASH FLOWS TO BE RECEIVED (OR PAID)
FOR THE DISPOSAL OF AN ASSET
USE PRICES ON DATE OF ESTIMATE FOR SIMILAR ASSETS
ADJUSTED FOR BOTH FUTURE PRICE INCREASES DUE TO
GENERAL INFLATION & SPECIFIC FUTURE PRICE INCREASES
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
COMPOSITION OF ESTIMATES OF FUTURE CASH FLOWS
FUTURE CASH FLOWS ARE ESTIMATED IN THE CURRENCY
GENERATED AND THEN DISCOUNTED USING A RATE APPROPRIATE
TRANSLATES THE PV OBTAINED USING EXCHANGE RATE
AT THE BALANCE SHEET DATE IN AS 11, ACCOUNTING FOR THE
EFFECTS OF CHANGES IN FOREX RATES, AS CLOSING RATE.
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
FOREIGN CURRENCY FUTURE CASH FLOWS
THE DISCOUNT RATE(S) SHOULD BE A PRE-TAX RATE(S) THAT REFLECT(S)
CURRENT MARKET OF TVM & RISKS SPECIFIC TO THE ASSET.
IT SHOULDNT REFLECT RISKS ALREADY ADJUSTED
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
DISCOUNT RATE
A RATE THAT REFLECTS CURRENT MARKET ASSESSMENTS OF TVM &
THE RISKS SPECIFIC TO THE ASSET IS THE RETURN THAT INVESTORS
WOULD REQUIRE IF THEY CHOOSE AN INVESTMENT THAT WOULD
GENERATE CASH FLOWS OF AMOUNTS, TIMING AND RISK PROFILE
EQUIVALENT TO THOSE THAT THE ENTERPRISE EXPECTS
TO DERIVE FROM THE ASSET.
THIS RATE IS ESTIMATED FROM THE RATE IMPLICIT IN
CURRENT MARKET TRANSACTIONS FOR SIMILAR ASSETS OR FROM WACC
OF A LISTED ENTERPRISE THAT HAS A SINGLE ASSET OR PORTFOLIO
SIMILAR IN TERMS OF SERVICE POTENTIAL & RISKS.
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
THE PURPOSE IS TO ESTIMATE A MARKET ASSESSMENT OF TVM & RISKS
THE ENTERPRISE MAY CONSIDER WACC, INCREMENTAL BORROWING RATE &
MARKET BORROWING RATES AND ARE ADJUSTED TO REFLECT
THE WAY THAT THE MARKET WOULD ASSESS THE SPECIFIC RISKS &
TO EXCLUDE RISKS THAT ARE NOT RELEVANT.
COUNTRY RISK, CURRENCY RISK, PRICE RISK & CASH FLOW RISK
DISCOUNT RATE
THE DISCOUNT RATE IS INDEPENDENT OF THE CAPITAL STRUCTURE &
THE WAY THE ENTERPRISE FINANCED THE PURCHASE OF THE ASSET
BECAUSE THE FUTURE CFs EXPECTED TO ARISE FROM AN ASSET
DO NOT DEPEND ON THE WAY IN WHICH THE ENTERPRISE
FINANCED THE PURCHASE OF THE ASSET.
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
WHEN THE BASIS FOR RATE IS POST-TAX, IT IS ADJUSTED TO PRE-TAX RATE.
DISCOUNT RATE
NORMALLY USES A SINGLE RATE FOR ESTIMATE OF VALUE IN USE.
HOWEVER, USES SEPARATE RATES FOR DIFFERENT FUTURE PERIODS
WHERE VALUE IN USE IS SENSITIVE TO A DIFF. IN RISKS FOR DIFF. PERIODS
OR TO THE TERM STRUCTURE OF INTEREST RATES.
RECOGNISED AS AN EXPENSE UNLESS CARRIED AT REVALUED AMOUNT
AS PER AS 10, IN WHICH CASE TREATED AS A REVALUATION DECREASE
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
RECOGNITION AND MEASUREMENT OF AN IMPAIRMENT LOSS
WHEN IMPAIRMENT LOSS EXCEEDS CARRYING AMOUNT,
RECOGNISE A LIABILITY IF REQUIRED BY ANOTHER AS.
AFTER RECOGNITION, DEPRECIATION SHOULD BE ADJUSTED TO ALLOCATE
THE REVISED CARRYING AMOUNT, LESS ITS RESIDUAL VALUE (IF ANY),
ON A SYSTEMATIC BASIS OVER ITS REMAINING USEFUL LIFE.
ANY RELATED DEFERRED TAX ASSETS OR LIABILITIES
ARE DETERMINED UNDER AS 22
RECOVERABLE AMOUNT OF AN ASSET CANNOT BE DETERMINED IF
VALUE IN USE CANNOT BE ESTIMATED TO BE CLOSE TO ITS NET SELLING PRICE
DOES NOT GENERATE INDEPENDENT CASH INFLOWS FROM CONTINUING USE
CAN BE DETERMINED ONLY FOR THE ASSETS CASH-GENERATING UNIT
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
IDENTIFICATION OF THE CASH-GENERATING UNIT TO WHICH IT BELONGS
IF RECOVERABLE AMOUNT CANNOT BE DETERMINED FOR AN ASSET,
AN ENTERPRISE IDENTIFIES THE LOWEST AGGREGATION OF ASSETS THAT
GENERATE LARGELY INDEPENDENT CASH INFLOWS FROM CONTINUING USE.
CASH INFLOWS FROM CONTINUING USE ARE INFLOWS RECEIVED FROM PARTIES
OUTSIDE THE REPORTING ENTERPRISE.
IF AN ACTIVE MARKET EXISTS FOR THE OUTPUT PRODUCED BY AN ASSET
OR ASSETS, SHOULD BE IDENTIFIED AS A CASH-GENERATING UNIT WHERE
BEST ESTIMATE OF FUTURE MARKET PRICES SHOULD BE USED
IN DETERMINING THE VALUE IN USE OF ALL CASH-GENERATING UNITS
THE CARRYING AMOUNT OF A CASH-GENERATING UNIT INCLUDES ASSETS
THAT CAN BE ATTRIBUTED DIRECTLY ON A REASONABLE & CONSISTENT BASIS,
TO CASH-GENERATING UNIT & THAT WILL GENERATE FUTURE CASH INFLOWS
DOES NOT INCLUDE ANY RECOGNISED LIABILITY
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
RECOVERABLE & CARRYING AMOUNT OF A CASH-GENERATING UNIT
MAY HAVE TO CONSIDER CERTAIN RECOGNISED ASSETS OR LIABILITIES
TO DETERMINE THE RECOVERABLE AMOUNT OF A CASH-GENERATING UNIT.
IN ORDER TO PERFORM A MEANINGFUL COMPARISON, CARRYING AMOUNT
IS DEDUCTED/ADDED FOR BOTH VALUE IN USE & CARRYING AMOUNT.
IF AN ACTIVE MARKET EXISTS FOR THE OUTPUT PRODUCED BY AN ASSET
OR ASSETS, SHOULD BE IDENTIFIED AS A CASH-GENERATING UNIT WHERE
BEST ESTIMATE OF FUTURE MARKET PRICES SHOULD BE USED
IN DETERMINING THE VALUE IN USE OF ALL CASH-GENERATING UNITS
IDENTIFY WHETHER GOODWILL OF THE CASH-GENERATING UNIT
IS RECOGNISED IN THE FINANCIAL STATEMENTS, IF YES, THEN
PERFORM BOTTOM-UP TEST TO IDENTIFY WHETHER ITS CARRYING AMOUNT
CAN BE ALLOCATED ON A REASONABLE BASIS TO THE CASH- GENERATING UNIT
THEN, COMPARE THE RECOVERABLE AMOUNT TO ITS CARRYING AMOUNT
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
GOODWILL
IF NOT PERFORM A TOP-DOWN TEST TO IDENTIFY THE SMALLEST
CASH-GENERATING UNIT THEN, COMPARE THE RECOVERABLE AMOUNT
OF THE LARGER CASH- GENERATING UNIT TO ITS CARRYING AMOUNT
BECAUSE CORPORATE ASSETS DO NOT GENERATE SEPARATE CASH INFLOWS,
THE RECOVERABLE AMOUNT CANNOT BE DETERMINED UNLESS DISPOSED OFF
IF THERE IS AN INDICATION OF IMPAIREMENT, RECOVERABLE AMOUNT
IS DETERMINED FOR THE CASH-GENERATING UNIT TO WHICH IT BELONGS,
COMPARED TO THE CARRYING AMOUNT OF THIS CASH-GENERATING UNIT
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
CORPORATE ASSETS
IF THE CARRYING AMOUNT CAN BE ALLOCATED ON A REASONABLE BASIS
TO THE CASH-GENERATING UNIT, APPLY THE BOTTOM-UP TEST ONLY
IF NOT, APPLY BOTH THE BOTTOM- UP AND TOP-DOWN TESTS
ALLOCATED TO REDUCE THE CARRYING AMOUNT OF THE ASSETS OF THE UNIT
FIRST, TO GOODWILL ALLOCATED TO THE CASH-GENERATING UNIT; AND
THEN, TO OTHERS ON A PRO-RATA BASIS BASED ON THEIR CARRYING AMOUNT
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
IMPAIRMENT LOSS FOR A CASH-GENERATING UNIT
IN ALLOCATING AN IMPAIRMENT LOSS THE CARRYING AMOUNT
SHOULD NOT BE REDUCED BELOW THE HIGHEST OF

1. ITS NET SELLING PRICE (OR)
2. ITS VALUE IN USE (OR)
3. ZERO
AN IMPAIRMENT LOSS RECOGNISED FOR AN ASSET IN PRIOR PERIODS
SHOULD BE REVERSED IF THERE HAS BEEN A CHANGE IN THE ESTIMATES OF
CASH INFLOWS, OUTFLOWS OR DISCOUNT RATES USED TO DETERMINE
RECOVERABLE AMOUNT SINCE THE LAST IMPAIRMENT LOSS WAS RECOGNISED.
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
REVERSAL OF AN IMPAIRMENT LOSS
THEN CARRYING AMOUNT SHOULD BE INCREASED TO RECOVERABLE AMOUNT.
THAT INCREASE IS A REVERSAL OF AN IMPAIRMENT LOSS.
VALUE IN USE MAY BECOME GREATER THAN CARRYING AMOUNT
BECAUSE PV OF FUTURE CASH INFLOWS INCREASES AS THEY BECOME CLOSER.
HOWEVER, THE SERVICE POTENTIAL OF THE ASSET HAS NOT INCREASED.
THEREFORE, AN IMPAIRMENT LOSS IS NOT REVERSED
BECAUSE OF THE PASSAGE OF TIME (UNWINDING OF THE DISCOUNT),
EVEN IF RECOVERABLE AMOUNT BECOMES HIGHER THAN CARRYING AMOUNT.
INCREASED CARRYING AMOUNT DUE TO A REVERSAL SHOULD NOT EXCEED
THE CARRYING AMOUNT THAT WOULD HAVE BEEN DETERMINED
HAD NO IMPAIRMENT LOSS RECOGNISED IN PRIOR PERIODS.
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
REVERSAL OF AN IMPAIRMENT LOSS FOR AN INDIVIDUAL ASSET
REVERSAL OF AN IMPAIRMENT LOSS FOR A CASH-GENERATING UNIT
IN ALLOCATING A REVERSAL FOR A CASH-GENERATING UNIT
THE CARRYING AMOUNT SHOULD NOT BE INCREASED ABOVE THE LOWER OF

ITS RECOVERABLE AMOUNT &
CARRYING AMOUNT
(IF NO IMPAIRMENT LOSS RECOGNISED IN PRIOR PERIODS)
AN IMPAIRMENT LOSS RECOGNISED FOR GOODWILL SHOULD NOT BE REVERSED
IN A SUBSEQUENT PERIOD UNLESS
1. THE IMPAIRMENT LOSS WAS CAUSED BY A SPECIFIC EXTERNAL EVENT
OF AN EXCEPTIONAL NATURE THAT IS NOT EXPECTED TO RECUR &
2. SUBSEQUENT EXTERNAL EVENTS HAVE OCCURRED
THAT REVERSE THE EFFECT OF THAT EVENT
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
REVERSAL OF AN IMPAIRMENT LOSS FOR GOODWILL
A SPECIFIC EXTERNAL EVENT
AN EVENT THAT IS OUTSIDE OF THE CONTROL OF THE ENTERPRISE.
NEW REGULATIONS THAT SIGNIFICANTLY CURTAIL OPERATING ACTIVITIES, OR
DECREASE THE PROFITABILITY, OF THE BUSINESS TO WHICH IT RELATES.
FOR EACH CLASS OF ASSETS
1. IMPAIRMENT LOSSES RECOGNISED IN P & L
2. REVERSALS OF IMPAIRMENT LOSSES RECOGNISED IN P & L
3. IMPAIRMENT LOSSES RECOGNISED AGAINST REVALUATION SURPLUS
4. REVERSALS OF IMPAIRMENT LOSSES RECOGNISED IN REVALUATION SURPLUS
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
DISCLOSURE
IF AN IMPAIRMENT LOSS IS RECOGNISED OR REVERSED AND IS MATERIAL
AN ENTERPRISE SHOULD DISCLOSE

1. EVENTS & CIRCUMSTANCES THAT LED TO THE RECOGNITION OR REVERSAL
2. THE IMPAIRMENT LOSS RECOGNISED OR REVERSED
3. THE NATURE & THE REPORTABLE SEGMENT OF AN INDIVIDUAL ASSET
4. DESCRIPTION, IMPAIRMENT LOSS RECOGNISED OR REVERSED & CURRENT
& FORMER WAY OF AGGREGATING ASSETS FOR A CASH-GENERATING UNIT
5. RECOVERABLE AMOUNT IS ITS NET SELLING PRICE OR VALUE IN USE
6. BASIS USED TO DETERMINE NET SELLING PRICE
7. DISCOUNT RATE USED IN CURRENT & PREVIOUS ESTIMATE OF VALUE IN USE
IMPAIRMENT = CARRYING AMOUNT RECOVERABLE AMOUNT.
DISCLOSURE
IF IMPAIRMENT LOSSES RECOGNISED (REVERSED) DURING THE PERIOD ARE
MATERIAL IN AGGREGATE TO THE FINANCIAL STATEMENTS

1. MAIN CLASSES OF ASSETS AFFECTED BY IMPAIRMENT LOSSES
(REVERSALS OF IMPAIRMENT LOSSES)
2. THE MAIN EVENTS AND CIRCUMSTANCES THAT LED TO
THE RECOGNITION (REVERSAL) OF THESE IMPAIRMENT LOSSES