THE INTERNATIONAL standard setter is to modify the accounting rules governing the impairment of assets (IAS 36).
The IASB last week published an exposure draft to set out proposed changes to the disclosure requirements – introduced by IFRS 13 – for the measurement of the recoverable amount of impaired assets.
According to the IASB, some of the amendments made to IAS 36 resulted in the requirement being more broadly applicable than the IASB intended.
In particular, the IASB 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 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," the IASB said.
The exposure draft is open for comment until 19 March.
Sign up for Financial Director email alerts
Please enter your email below to receive your profile link
Search by job title, salary, or location - we only list senior financial roles
6.30pm, 16 Jul 2014
Analysing Excellence: How CFOs can drive business decisions by interpreting data
8.30am, 26 Jun 2014
Targeted at FDs and CFOs, the FD Conference 2014 provides a platform in which to learn from outstanding keynotes and network with like-minded peers
The governance and management of the Co-operative Group has been damned in two separate reviews. Richard Crump looks at where it can go from here
Send to a friend