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Determine the amount of impairment charge

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Euro Aviation has a Boeing jet with a carrying value of 12,000,000. The sum of the estimated undiscounted future cash flows generated by use of the jet is 12,500,000 and the present value of these cash flows is 10,800,000. It is also determined by an appraisal that the fair value of the jet, less costs to sell, is 11,400,000.

Problem 1: Under IFRS, determine the amount of impairment charge, if any.

Problem 2: Under U.S GAAP, determine the amount of the impairment charge, if any.

Reference no: EM132887529

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