We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedGovernance

IASB may modify asset impairment rules


Exposure draft open for comment until March 19

Article comments

Accounting rules governing the impairment of assets (IAS 36) may be modified by the International Accounting Standards Board (IASB).

In an exposure draft published last week, the international accounting standard setter set out proposed changes for Recoverable Amount Disclosures for Non-Financial Assets, first introduced by IFRS 13. The draft is open for comment until 19 March.

The IASB said it had originally intended that the amendment would require an entity to disclose the recoverable amount of an asset, including goodwill, for which an impairment loss was recognised or reversed during the fiscal reporting period.

"Instead, an entity is now required to disclose the recoverable amount of each cash-generating unit for which the carrying amount of goodwill or intangible assets with indefinite useful lives allocated to that unit is significant when compared to the entity's total carrying amount of goodwill or intangible assets with indefinite useful lives," it explained.

Hence, industry comments are currently being sought.

Share:

Recommended Articles

Comments

IASB may modify asset impairment rules
Governance

What’s going to kill your company?

What’s going to kill your company?

The role of the CFO and the board in strategic risk governancemore ..


Tesco’s new finance chief starts two months early amid accounting crisis

Marks and Spencer releases Alan Stewart early by to help deal with £250 million hole in Tesco’s accountsmore ..

Microsoft removes Bing image widget after Getty lawsuit

The company is being sued by Getty Images for copyright infringementmore ..

Apple loses bid for sales ban in Samsung patent case

Apple failed to show that it suffered enough harm as a result of Samsung's infringementmore ..

What makes a good board report?

Examining how CFOs can improve the way they report back to the boardmore ..

Examining the issue of corporate litigation funding

Litigation funding is a very useful tool for CFOs but not a panacea for all legal mattersmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *