BC1 This Basis for Conclusions summarises the International Accounting Standards Board’s considerations in reaching the conclusions in IAS 36 Impairment of Assets. Individual Board members gave greater weight to some factors than to others.
BC2 The International Accounting Standards Committee (IASC) issued the previous version of IAS 36 in 1998. It has been revised by the Board as part of its project on business combinations. That project had two phases. The first resulted in the Board issuing simultaneously in 2004 IFRS 3 Business Combinations and revised versions of IAS 36 and IAS 38 Intangible Assets. The Board’s intention in revising IAS 36 as part of the first phase of the project was not to reconsider all of the requirements in IAS 36. The changes to IAS 36 were primarily concerned with the impairment tests for intangible assets with indefinite useful lives (hereafter referred to as ‘indefinite‑lived intangibles’) and goodwill. The second phase of the project on busines
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