Question

Summarise the disclosure requirements for impairment of non-financial assets as per AASB 136.

Answer 1

An entity shall disclose the following for each class of assets:
(a) the amount of impairment losses recognised in profit or loss during the period and the line item(s) of the statement of comprehensive income in which those impairment losses are included;
(b) the amount of reversals of impairment losses recognised in profit or loss during the period and the line item(s) of the statement of comprehensive income in which those impairment losses are reversed;
(c) the amount of impairment losses on revalued assets recognised in other comprehensive income during the period; and
(d) the amount of reversals of impairment losses on revalued assets recognised in other comprehensive income during the period.