Document ID: chunk:federal_register_of_legislation:F2021L00471:body:0:p13
Version: federal_register_of_legislation:F2021L00471
Segment Type: other
Provision Reference: 
Character Range: 33867–36950

that cash-generating unit and then to reduce the carrying amount of the other assets in the unit on a pro rata basis.
  An impairment loss in respect of goodwill is not subsequently reversed. For other assets, an impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount, but only to the extent that the new carrying amount does not exceed the carrying amount that would have been determined, net of depreciation and amortisation, if no impairment loss had been recognised.
Application
Having identified assets subject to impairment testing as being material to the financial statements, the entity assesses whether the accounting policy information for impairment is, in fact, material.
As part of its assessment, the entity considers that an impairment or a reversal of an impairment had not occurred in the current or comparative reporting periods. Consequently, accounting policy information about how the entity recognises and allocates impairment losses is unlikely to be material to its primary users. Similarly, because the entity has no intangible assets or goodwill, information about its accounting policy for impairments of intangible assets and goodwill is unlikely to provide its primary users with material information.
However, the entity's impairment accounting policy relates to an area for which the entity is required to make significant judgements or assumptions, as described in paragraphs 122 and 125 of AASB 101. Given the entity's specific circumstances, it concludes that information about its significant judgements and assumptions related to its impairment assessments could reasonably be expected to influence the decisions of the primary users of the entity's financial statements. The entity notes that its disclosures about significant judgements and assumptions already include information about the significant judgements and assumptions used in its impairment assessments.
The entity decides that the primary users of its financial statements would be unlikely to need to understand the recognition and measurement requirements of AASB 136 to understand related information in the financial statements.
Consequently, the entity concludes that disclosing a summary of the requirements in AASB 136 in a separate accounting policy for impairment would not provide information that could reasonably be expected to influence decisions made by the primary users of its financial statements. Instead, the entity discloses material accounting policy information related to the significant judgements and assumptions the entity has applied in its impairment assessments elsewhere in the financial statements.
Although the entity assesses some accounting policy information for impairments of assets as immaterial, the entity still assesses whether other disclosure requirements of AASB 136 provide material information that should be disclosed.

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Appendix B
References to the Conceptual Framework for Financial Reporting and Australian Accounting Standards
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Extracts from AASB 101 Presentation