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Impairment testing – points to consider for directors

19 June 2015

The Australian Securities and Investments Commission (ASIC) has published an information sheet, "Impairment of non-financial assets: Materials for directors [INFO 203]" that highlights the importance of implementing accurate impairment testing in the calculation of their company's financial reports.

Impairment testing (the calculation of the worth of assets to bring the carrying value of a business into line with the recoverable value) can be a complicated process. The ASIC guidance focuses on the impairment of the non-financial assets of goodwill, identifiable intangible assets and property, plant and equipment and aims to demonstrate the importance of creating financial reports that are informative, correct and meaningful to investors.

For more information please contact:

David Williams | Partner
Mullins Lawyers
t +61 7 3224 0270
f +61 7 3224 0333
dwilliams@mullinslaw.com.au

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