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Recoverable Amount Disclosures for Non-Financial Assets (Amendments to IAS 36) [Completed]

Effective date: Annual periods beginning on or after January 1, 2014.

Transitional provisions:

To be applied retrospectively for annual periods beginning on or after January 1, 2014.  Earlier application is permitted for periods when the entity has already applied IFRS 13.

Last updated:

May 2013

Overview

These narrow-scope amendments to IAS 36, Impairment of Assets, address the disclosure of information about the recoverable amount of impaired assets if that amount is based on fair value less costs of disposal.  When developing IFRS 13, Fair Value Measurement, the IASB decided to amend IAS 36 to require disclosures about the recoverable amount of impaired assets.  These amendments published in May 2013 clarify the IASB’s original intention: namely that the scope of those disclosures is limited to the recoverable amount of impaired assets that is based on fair value less costs of disposal.

Recent activities

May 2013

On May 29, 2013, the IASB issued Recoverable Amount Disclosures for Non-Financial Assets (Amendments to IAS 36). 

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