CPA Exam , Under the reporting requirements for impaired assets, impairment losses for assets to be held and used shall be reported ?

Option C is my choice.good luck

Impairment is the condition that exists when the carrying amount of a long-lived asset exceeds its fair value. An impairment loss shall be recognized only if the carrying amount...is not recoverable and exceeds its fair value. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. An impairment loss shall be measured as the amount by which the carrying amount exceeds fair value

c. As a component of income from continuing

operations.

Uder IFRS, The amount by which the carrying value of the asset to be held exceeds its' recoverable amount is termed as impairment loss and this loss has two reporting requiremens, 1) loss for the year shall be reported as part of income from continued operations before taxes 2) accumulated impairment loss shall be shown seperately with the disclosure of asset in balance sheet and notes forming part thereof.

I agree with following answers, C is correct.

c. is correct.........................

thankss to invite me to answer that question

i am agreemant with the other answers

C. This loss must be represented on the IS

Yes, Shall be reported in notes when you will closed your financial Account and Fixed Assets Schedule.

C is corect answer.That As a component of income from continuing