Abstract

PEREA-MURILLO, Sandra Patricia. Inconsistencies in the impairment of the value of assets and International Accounting Standards. Cuad. Contab. [online]. 2018, vol.19, n.48, pp.115-126. ISSN 0123-1472.  https://doi.org/10.11144/javeriana.cc19-48.idva.

This article exposes the existing ontological and epistemological inconsistencies in the conceptualization of the impairment of the value of assets by the issuer of the International Financial Reporting Standards -IASB. This qualitative study, based on a literature review of the neoclassical current of economic theory, draws a coherent argumentation about the inconsistencies contained in IAS 36. We concluded that IAS 36 deems value in use and fair value as equivalent valuation methods, by stating that the recoverable amount of an asset results from the higher value once the value in use is compared to the fair value less costs to sell. This leaves aside the evident discrepancy of the nature of these two valuation basis information sources.

Keywords : impairment of the value of assets; recoverable amount of an asset.

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