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What is definition of recoverable amount as per IAS 16?

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تم إضافة السؤال من قبل Almutaz Bakry Sidahmed , Internal Audit Manager , Banan real estate
تاريخ النشر: 2014/05/12
Shamim Khan Dawar
من قبل Shamim Khan Dawar , Group Finance Manager , JAWAHR | Jawa Logistics | Orient Trading(OMATRA)

 Recoverable amount is the higher of an asset's fair value less costs to sell and its value in use.

مستخدم محذوف‎
من قبل مستخدم محذوف‎

According to IAS, recoverable amount of an asset is the maximum of:

1)the asset's fair value (its selling price)

2) the asset's value in use. The value in use of an asset is the sum of the discounted cash flows derived from the asset.

Rashad Moursi
من قبل Rashad Moursi , Finance Director & Business Development, International Business Transformer Owners Repr. - Hotels , Investment and financial

Recoverable amount of an asset, also called realizable value; equals to, assets fair value less costs to sell or usability value whichever is less;

Usability value equals to the current valu future cash flows expected to be occur from the asset or cash-generating unit.

Mohammad Ibrahim, CMA, CertIFR
من قبل Mohammad Ibrahim, CMA, CertIFR , Accounting Operation Team Leader , KFH ( Kuwait Finance House )

the Recoverable Amount : 

its used when you recognise any impairment test for your assets .

you must compare the carrying amount ( amount of asset recorded in statement in financial position ) with the recoverable amount which is under IFRS ( The Higher of  A) Fair Value Of Net Selling Price OR B) Value In Use )

Value In Use : mean ( the Discounted Net Cash Flow ( Inflow Or Outflow ) Generated from the use of asset after substracting any Disposal Value At the end of Life .

 

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