CERTYNEX IFRS ACADEMY

A group reports a brand with an indefinite useful life. In addition to the general information by class, what must it disclose in the notes about this brand?

Its carrying amount and the reasons supporting the indefinite life, with the significant factors.

The amortisation period it would have used had the useful life been assessed as finite.

The fair value of the brand at each year-end, even when there is no active market for the brand.

Only the outcome of the annual impairment test, the indefinite life calling for no other explanation.