Exercício de Finanças 612

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Ahmed Nawfal Copyright © 2013 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 15/e, Solutions Manual (For Instructor Use Only) 11-99 
IFRS11-14 (Continued) 
 
Note to instructors: An alternative way to make Liberty and Kimco compa-
rable is to adjust Kimco’s assets to fair values. This approach could be 
used to discuss the trade-off between relevance and faithful 
representation. 
 
 
IFRS11-15 
 
(a) The authoritative guidance for asset impairments is IAS 36: Impairment 
of Assets. This Standard shall be applied in accounting for the impair-
ment of all assets, other than: 
a. inventories; 
b. assets arising from construction contracts; 
c. deferred tax assets; 
d. assets arising from employee benefits; 
e. financial assets that are within the scope of IAS 39 Financial 
Instruments: Recognition and Measurement; 
f. investment property that is measured at fair value; 
g. biological assets related to agricultural activity that are measured at 
fair value less costs to sell; 
h. deferred acquisition costs, and intangible assets, arising from an 
insurer’s contractual rights under insurance contracts within the 
scope of IFRS 4 Insurance Contracts; and 
i. non-current assets (or disposal groups) classified as held for sale 
in accordance with IFRS 5 Non-current Assets Held for Sale and 
Discontinued Operations (para. 2). 
 
This Standard applies to financial assets classified as: 
a. subsidiaries, as defined in IAS 27 Consolidated and Separate 
Financial Statements; 
b. associates, as defined in IAS 28 Investments in Associates; and 
c. joint ventures, as defined in IAS 31 Interests in Joint Ventures. For 
impairment of other financial assets, refer to IAS 39 (para. 4).