CERTYNEX IFRS ACADEMY

The Mireval group, which reports segment information, reversed in 20X3 a material impairment loss of 70,000 on a patent in its Health segment, following a regulatory approval. The patent's recoverable amount is its fair value less costs of disposal, categorised within Level 2 of the IFRS 13 hierarchy and determined using a market approach, without discounting (valuer's data). The draft note mentions only the amount of the reversal and the approval obtained. How should it be completed?

There is nothing to add: the detailed disclosures concern impairment losses, not their reversals.

Add the nature of the asset and its segment, the recoverable amount and its basis, Level 2 of the hierarchy, and the valuation technique and key assumptions.

Add the current and previous discount rates, as for any recoverable amount.

Add only the nature of the asset and its segment, since the basis of the recoverable amount need not be disclosed for a reversal.