Publication of a Limited Amendment to IAS 36

Keywords: Mazars, Thailand, Accounting, IAS 36, IFRS 13, CGU

25 July  2013

These amendments are:

• clarification that an entity must disclose the recoverable amount of any asset or CGU for which a loss of value has been recognised or reversed during the period, and no longer for all CGUs including significant non-amortisable intangible assets (including goodwill) even if there is no impairment;

• introduce a new requirement for disclosures on fair value measurement when the recoverable value of any asset or CGU for which a loss of value has been recognised or reversed during the period is determined on the basis of fair value less costs of disposal. These new disclosures are essentially similar to those already required by IAS 36.134(e) for CGUs including significant non-amortisable intangible assets (including goodwill) whose recoverable value is determined on the basis of fair value less costs of disposal.

These amendments will apply retrospectively to financial years beginning on or after 1 January 2014. Early application is possible. However, an entity may not apply these amendments to periods (including comparative periods) in which it does not also apply IFRS 13.