in IAS 36 - Impairment of Assets by
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I have a thesis on IAS 36 and can't find any positive critique to the Standard.

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Impairment of Assets seeks to ensure that an entity's assets are not carried at more than their recoverable amount (ie. the higher of fair value less costs to sell and value in use)

fair value tends to be highly subjective when there is no active market. Also calculation of value in use is also largely based on estimates and it may vary in the short term.

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