Financial Accounting and Reporting

Impairment testing is completed relative to fair value under U.S GAAP. What occurs under IFRS?

Are impairment losses reversed under U.S. GAAP?

In IFRS, one-step impairment test for goodwill must be performed. What occurs in U.S GAAP?

In U.S. GAAP, revaluation is not permitted. What occurs under IFRS?