What is essential for measuring recovery amounts of assets under FRS 101?

For measuring recovery amounts of assets under FRS 101, the focus is on ensuring that the financial statements reflect a true and fair view of the entity's financial position, which can entail certain exemptions for disclosures, specifically regarding estimates for certain assets.

FRS 101 allows entities to prepare their accounts in accordance with IFRS standards while providing certain exemptions from the full disclosure requirements found in IFRS. This means that while entities still need to prepare reliable financial statements, they may be exempt from disclosing detailed information about estimates related to the recoverability of certain types of assets. By allowing these exemptions, FRS 101 helps streamline the reporting requirements for smaller entities or those listed in specific jurisdictions, without compromising the overall quality of the financial information provided.

In contrast, complete measurement of fair value and full disclosure requirements may not reflect the specific needs of all entities under FRS 101, particularly those that benefit from reduced disclosure burdens. Therefore, while fair value measurements or comparative analyses are important in general accounting practice, they do not directly pertain to the specific requirements outlined in FRS 101 for measuring recovery amounts.