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Discuss when an entity should conduct impairment testing

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Reference no: EM132607245

Dickinson Ltd records the carrying amount of land using the revaluation model. The chief financial officer states that impairment is only relevant to the cost model and therefore the land would not be subject to impairment testing.

Question a: Explain what an impairment test is and whether it is relevant to the revaluation model.

Question b: Discuss when an entity should conduct impairment testing.

Reference no: EM132607245

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