In this simple illustrative video, you will get a conceptual understanding of –
1. What is Functional and Foreign currency?
2. When does Impairment Loss arise?
3. Meaning of FVLCD and VIU
4. Measurement of Impairment Loss in Foreign Currency for a Non-Monetary Asset
5. How to calculate Impairment Loss and the Carrying Amount after impairment?
6. Effect of comparison between Carrying Amount and Recoverable Amount for Foreign Currency Transactions
7. 3 numerical examples illustrating the above
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