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Impairment loss on account of Goodwill can not be reversed as per IAS 36. True or False?

Accounting Cost Accounting Financial Accounting sap fico Finance
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Question added by Mohammed Mohammed , Senior SAP Consultant , Abyat Mega Store
Date Posted: 2017/04/24
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Emmanuel Orock

YES BECAUSE Goodwill is an intangible asset. following IAS 36 it is prohibited to recover the loss upon impairment of Goodwill.

Azhar Nadeem ACCA CIA
by Azhar Nadeem ACCA CIA , Senior Internal Auditor , Al Bayader International LLC

According to IAS "Impairment of Assets" Reversal of Impairment loss for goodwill is prohibited. 

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