Consider the following statements regarding the calculation of ‘recoverable amount’ in context of IAS 36 Impairment of assets:

1. All assets are tested for impairment in terms of IAS 36 Impairment of assets.

2. If an asset is impaired, the decrease in carrying amount will be recognised as an impairment loss in profit or loss.

3. If an asset is impaired, the decrease in carrying amount will be recognised as an impairment loss in other comprehensive income if the asset is measured under the revaluation model.