Home  Journals  International Accounting  36(186) - 2011 September

Impairment of assets in the financial reporting: requirements and 2008-2010 results in Russia and abroad

Available online: 22 September 2011

Subject Heading: ON THE WAY TO THE INTERNATIONAL STANDARDS

JEL Classification: 

Financial and economic crisis of 2008-2009 caused impairment of various assets in the financial statements of the companies: fixed assets, goodwill and other intangible assets, inventories, accounts receivable, assets of financial institutions, including loans issued and other financial instruments. The article contains description of trends in the foreign countries and in Russia, and the methodology for testing of assets for impairment. It also contains comparison of the main standards on financial reporting and analysis of probability of impairment recognition. The main specific issues to be considered in the impairment testing are described.

Keywords: international financial reporting standards, IFRS, valuation, impairment of assets, fixed assets, goodwill

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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