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White Paper | Impairment of assets as per IAS 36

Received Response
edited Mar 5, 2021 4:31PM in Assets 1 comment


The white paper describes the asset impairment feature in Oracle Fusion Assets that is designed to meet the International Accounting Standard (IAS) 36 Impairment of Assets.


IAS 36 addresses accounting and reporting for impairment of assets. The accounting standard provides that assets should not be carried at more than their recoverable amounts. Requires entities to carry out impairment tests for all their tangible and intangible assets, other than assets in certain specified categories (for example inventories, construction contract assets, financial assets, and non-current assets classified as held for sale) on each balance sheet date. The basic mechanism for accounting impairment is as follows:

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