FRS 105 and impairment of investments

Is previous year impairment reversed under FRS 105 if value has increased during the year ?

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A ltd company client has Unit Trust investments which were reported at historic cost (cost less impairment) last year (FRSSE).

Accounts being prepared under FRS 105. The value of the Unit Trust investments have increased in the current year.

Am aware that under FRS 105 investments are not reported at 'fair value' but historic cost (cost less depreciation and impairment) instead.

The question is given that the investments have increased in value this year (beyond their cost price) should the impairment last year now be reversed resulting in the Unit Trusts being reflected in the accounts this year at original cost which will still be below their fair value ?? or should the impairment last year remain in the accounts this year even though these are no longer impaired and have actually increased in value.

Many thanks.

 

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