Asked by Kiasha Trammell on Apr 24, 2024
Reversals of impairment losses on held-to-maturity and available-for-sale securities are recognized in income under IFRSGAAP I. yes yes II. no yes III. yes no IV. no no \begin{array}{lll} & \text {IFRS} & \text {GAAP}\\\text { I. } & \text { yes } & \text { yes } \\\text { II. } & \text {no } & \text { yes } \\\text { III. } & \text { yes } & \text {no } \\ \text { IV. } & \text { no } & \text { no }\end{array} I. II. III. IV. IFRS yes no yes no GAAP yes yes no no
A) I
B) II
C) III
D) IV
Impairment Losses
The decrease in an asset's net carrying value that exceeds its recoverable amount.
Held-to-Maturity
A classification for investment securities that a company intends and has the ability to hold until they mature.
IFRS
IFRS stands for International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) aiming at making global financial statements more comparable, transparent, and reliable.
- Understand the implications of impairment losses and their reversals under different frameworks.
Learning Objectives
- Understand the implications of impairment losses and their reversals under different frameworks.