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18 Aug. 2015

Proposed amendments to AASB 136

Exposure Draft ED 269 Recoverable Amount of Non-cash-generating Specialised Assets of Not-for-Profit Entities has been issued.

ED 269 proposes to remove references to using depreciated replacement cost as a measure of value in use for not-for-profit entities from AASB 136 Impairment of Assets.

The ED also proposes to clarify that:

  1. many assets of not-for-profit entities that are not held primarily for the their ability to generate net cash inflows are typically specialised assets held for continuing use of their service capacity; and
  2. given that these assets are rarely sold, their cost of disposal is typically negligible, and their recoverable amount is expected to be materially the same as fair value, determined under AASB 13 Fair Value Measurement.

Comments on ED 269 are requested to the AASB by 16 November 2015.