asset impairment provision for energy storage assets

7.13 Impairment of financial assets

7.13.1 Impairment—scope. The scope of instruments subject to the IFRS 9 impairment requirements is similar to the scope of instruments subject to ASC 326. Both apply to financial assets measured at amortized cost, as well as to off-balance sheet exposures, such as loan commitments and guarantees. Neither apply to investments in equity ...

ANNOUNCEMENT IN RELATION TO PROVISION FOR IMPAIRMENT OF ASSETS …

provision for asset impairment of the Company complied with Accounting Standards for Business Enterprises and the Company''s relevant accounting policies, objectively and fairly reflecting the financial position and operating results of the Company.

Impairment of Assets: Introduction to IAS 36

Purpose. IAS 36 – Impairment of Assets seeks to. prescribe procedures an entity applies to ensure assets are carried at no more than the recoverable amount. specified how to measure the recoverable amount. specifies when an entity should reverse an impairment loss, and. prescribes disclosures.

IAS 36

IAS 36 does not apply. The following assets are excluded from the scope of IAS 36, with impairment requirements for these assets dealt with in specific Accounting Standards as shown below: Non-current assets or disposal groups classified as held for sale (IFRS 5). IAS 36 does apply. However, IAS 36 does apply to the following:

Provision for Credit Impairment and Assets Impairment for the …

- 2 - A breakdown is set out below: Unit: RMB ten thousand yuan Item Provision for impairment in the first three quarters of 2020 Provision for impairment in 2020 Credit impairment losses: 32,428.73 14,954.75 Including: Trade receivables 24,522.20 6,207.10

FRS 102 Impairment of Assets

Section 27 of FRS 102 sets out the general principle that assets must not be carried in the. FRS 102.27.1. balance sheet at more than their recoverable amount. Section 27 deals with the impairment of inventories separately from the impairment of other assets within its scope (see section. 4).

Impairment of intangible assets and goodwill | Grant Thornton

IAS 36 requires that both intangible assets with an indefinite useful life (and any intangibles not yet ready for their intended use) and goodwill be tested for impairment at least annually. For other asset classes that fall under the standard, the entity is required to test the asset for impairment when indicators of impairment are present.

How energy storage helps energy assets connect with energy markets

Energy storage can help enable cleaner, reliable, low-carbon energy networks while connecting energy assets to the market opportunities that will make the transition to renewable energy economically feasible. We speak to Wärtsilä''s Jeff Damron about the ways that the value of energy storage can be realised in markets across the …

ANNOUNCEMENT IN RELATION TO PROVISION FOR ASSET IMPAIRMENT …

treatment on provision for impairment on assets, adjustment to the valuation of investments and equity method adjustment with respect to the investment assets related to China Fortune Land Development Co., Ltd. (" China Fortune ") as of June 30, 2021 for the first half of 2021 (the

TECHNICAL BRIEFING SSAP 31 Impairment of Assets

pairment of AssetsSSAP 31 Impairment of AssetsStatement of Standard Accounting Practice SSAP 31, "Impairment of Assets", is the first accounting standard in Hong Kong that deals comprehensively with the impact of a decline in value in assets.1, 2 SSAP 31 applies to financial statements covering periods beginning on or after 1 January 2001 ...

ANNOUNCEMENT ON PROVISION FOR ASSET IMPAIRMENT

assets and therefore approved such provision for asset impairment. The Company convened the 2nd meeting of the eleventh session of the Supervisory Committee on 19 March 2024 and considered and approved the "Proposal on the Company''s Provision for

Impaired Asset

An impaired asset occurs when the recoverable value or fair market value of an asset is lower than its carrying value. Long-term assets, such as patents, goodwill, PP&E, etc., are subject to asset impairment due to their long economic lives, especially when their depreciation or amortization expenses are underestimated.

ANNOUNCEMENT IN RELATION TO PROVISION FOR IMPAIRMENT ON ASSETS …

I. DETAILS OF PROVISION FOR ASSET IMPAIRMENT Item Provision/ (reversed) for the half year of 2020 (RMB million) Provision for impairment of fixed assets 221.81 Provision for impairment of construction in progress 8.03 Provision for impairment of 13.59

Are you getting stuck on IFRS 16 impairment? | Grant Thornton

For most companies, when taking on the transition to IFRS 16 ''leases'', the standard has been reviewed in isolation. However, with IFRS 16 bringing on ''right of use'' (ROU) assets, a question that we are being asked by our clients is how you factor these ROU assets into your impairment assessment under IAS 36 ''Impairment of Assets''.

INSIDE INFORMATION ANNOUNCEMENT PROVISIONS FOR ASSET IMPAIRMENT

– 2 – 2. Provision for impairment on related fixed assets due to the disposal of certain wind turbines in Dafengping Wind Farm Reference is made to the announcement of the Company dated 17 March 2021 in relation to, among others, the demolition of wind

ANNOUNCEMENT IN RELATION TO PROVISION FOR IMPAIRMENT OF ASSETS …

– 3 – (V) Explanation of the Board on the reasonableness of the provision for impairment of the assets In view of the current situation of Production Line 580 and Production Line 800, the Board resolved to make provision for asset impairment of RMB304,315,500 for ...

Announcement on Provision for Asset Impairment in 2023H1

From January to June 2023, the total impairment provision of the Company was RMB 6.21 billion. The details are as follows: 1. Provision for impairment of accounts receivable and other financial assets. The provision for impairment of financial assets, such as the accounts receivables, other receivables, long-term receivables and debt ...

INDIAN ACCOUNTING STANDARD 36 IMPAIRMENT OF ASSETS …

is either: the period of time over which an asset is expected to be used by the entity; or. the number of production or similar units expected to be obtained from the asset by the entity. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit.

ANNOUNCEMENT IN RELATION TO PROVISION FOR ASSETS IMPAIRMENT

aggregated provision for asset impairment of RMB1,921.5890 million in the consolidated statements, as a result of which, the Company recorded a decrease of RMB1,921.5890 million and RMB1,681.0524 million in the total profit and net profit, respectively.

PROVISION FOR ASSET IMPAIRMENT

. Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of ...

INSIDE INFORMATION PROVISION FOR IMPAIRMENT OF ASSETS

PROVISION FOR IMPAIRMENT OF ASSETS This announcement is made pursuant to Rule 13.09(2) of the Rules Governing the ... No. 8 – Asset Impairment and IAS 36 – Impairment of Assets, if an asset has or will become idle, its usage has been terminated ...

Applying IAS 36 Impairment of Assets

IFRSs''. A decision to sell an asset is an indicator of impairment (see section 6 of this factsheet) and will trigger an impairment review. This will result in IAS 36 being applied immediately before the asset is classified as held for sale (assuming the relevant criteria are met) and treated in accordance with IFRS 5.

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