(Answered) Question - the following information was taken from the

Accounting

Question - The following information was taken from the fixed asset records of BBB Ltd as of December 31, 2010:

Carrying value €100000

Selling price € 85000

Cost of disposal € 3000

Expected future cash flows €75000

Present value of expected future cash flows €63000

1) Using IFRS (IAS 36), what is the amount of Impairment Loss?

2) What is the amount of Impairment Loss under U.S. GAAP?

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