Document ID: chunk:federal_register_of_legislation:F2023C00180:front:0:p2
Version: federal_register_of_legislation:F2023C00180
Segment Type: other
Provision Reference: 
Character Range: 2955–6074

individual asset 117
Reversing an impairment loss for a cash-generating unit 122
Reversing an impairment loss for goodwill 124
Disclosure 126
Estimates used to measure recoverable amounts of cash-generating units containing goodwill or intangible assets with indefinite useful lives              134
Transition provisions and effective date 138
Withdrawal of IAS 36 (issued 1998)
Commencement of the legislative instrument
Withdrawal of AASB pronouncements Aus141.2
Appendices
A  Using present value techniques to measure value in use
C  Impairment testing cash-generating units with goodwill and non-controlling interests
D  Australian defined terms
E  Australian simplified disclosures for Tier 2 entities
illustrative examples
compilation details
Deleted IAS 36 text
BASIS FOR CONCLUSIONS ON AASB 2016-4

available on the AASB website
Basis for Conclusions on IAS 36

Australian Accounting Standard AASB 136 Impairment of Assets (as amended) is set out in paragraphs 1 – Aus141.2 and Appendices A and C – E.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  AASB 136 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations, and AASB 1057 Application of Australian Accounting Standards.  In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.

Comparison with IAS 36
AASB 136 Impairment of Assets as amended incorporates IAS 36 Impairment of Assets as issued and amended by the International Accounting Standards Board (IASB).  Australian‑specific paragraphs (which are not included in IAS 36) are identified with the prefix "Aus".  Paragraphs that apply only to not-for-profit entities begin by identifying their limited applicability.

Tier 1
For-profit entities complying with AASB 136 also comply with IAS 36.
Not-for-profit entities' compliance with IAS 36 will depend on whether any "Aus" paragraphs that specifically apply to not-for-profit entities provide additional guidance or contain applicable requirements that are inconsistent with IAS 36.

Tier 2
Entities preparing general purpose financial statements under Australian Accounting Standards – Simplified Disclosures (Tier 2) will not be in compliance with IFRS Standards.
AASB 1053 Application of Tiers of Australian Accounting Standards explains the two tiers of reporting requirements.

Accounting Standard AASB 136

The Australian Accounting Standards Board made Accounting Standard AASB 136 Impairment of Assets under section 334 of the Corporations Act 2001 on 14 August 2015.

This compiled version of AASB 136 applies to annual periods beginning on or after 1 January 2023 but before 1 July 2026.  It incorporates relevant amendments contained in other AASB Standards made by the AASB up to and including 15 December 2022 (see Compilation Details).

Accounting Standard AASB 136

Impairment of Assets

Objective
1 The objective of this Standard is to