CERTYNEX IFRS ACADEMY

To restate 2022, Jirvard would need to know whether its management at the time intended to keep or sell a plot of land. No document establishes this and the managers have changed. What should be concluded?

Intent does not matter for the restatement.

Restatement is practicable, because the land still exists.

Restatement is impracticable for 2022: it requires assumptions about management's past intent.

Current management may set the 2022 intent according to its present strategy.