Disclosure of each class of assets :
For each class of assets, the financial statements should disclose:
(a) the amount of impairment losses recognised in the statement of profit and loss during the period and the line item(s) of the statement of profit and loss in which those impairment losses are included;
(b) the amount of reversals of impairment losses recognised in the statement of profit and loss during the period and the line item(s) of the statement of profit and loss in which those impairment losses are reversed;
(c) the amount of impairment losses recognised directly against revaluation surplus during the period; and
(d) the amount of reversals of impairment losses recognised directly in revaluation surplus during the period.
118. A class of assets is a grouping of assets of similar nature and use in an enterprise’s operations.
119. The information required in paragraph 117 may be presented with other information disclosed for the class of assets. For example, this information may be included in a reconciliation of the carrying amount of fixed assets, at the beginning and end of the period, as required under AS 10, Accounting for Fixed Assets.
120. An enterprise that applies AS 17, Segment Reporting, should disclose the following for each reportable segment based on an enterprise’s primary format (as defined in AS 17):
(a) the amount of impairment losses recognised in the statement of profit and loss and directly against revaluation surplus during the period; and
(b) the amount of reversals of impairment losses recognised in the statement of profit and loss and directly in revaluation surplus during the period.
121. If an impairment loss for an individual asset or a cash-generating unit is recognised or reversed during the period and is material to the financial statements of the reporting enterprise as a whole, an enterprise should disclose:
(a) the events and circumstances that led to the recognition or reversal of the impairment loss;
(b) the amount of the impairment loss recognised or reversed;
(c) for an individual asset:
(i) the nature of the asset; and
(ii) the reportable segment to which the asset belongs, based on the enterprise’s primary format (as defined in AS 17, Segment Reporting);
(d) for a cash-generating unit:
(i) a description of the cash-generating unit (such as whether it is a product line, a plant, a business operation, a geographical area, a reportable segment as defined in AS 17 or other);
(ii) the amount of the impairment loss recognised or reversed by class of assets and by reportable segment based on the enterprise’s primary format (as defined in AS 17); and
(iii) if the aggregation of assets for identifying the cash-generating unit has changed since the previous estimate of the cashgenerating unit’s recoverable amount (if any), the enterprise should describe the current and former way of aggregating assets and the reasons for changing the way the cashgenerating unit is identified;
(e) whether the recoverable amount of the asset (cash-generating unit) is its net selling price or its value in use;
(f) if recoverable amount is net selling price, the basis used to determine net selling price (such as whether selling price was determined by reference to an active market or in some other way); and
(g) if recoverable amount is value in use, the discount rate(s) used in the current estimate and previous estimate (if any) of value in use. Provided that if a Small and Medium-sized Company (SMC) or a Small and Medium-sized Enterprise (SME) (Level II or Level III non-corporate entity), as defined in Appendix 1 to the Compendium, chooses to measure the ‘value in use’ as per the proviso to paragraph 4.2 of the Standard, such an SMC/ SME need not disclose the information required by paragraph 121(g) of the Standard.
122. If impairment losses recognised (reversed) during the period are material in aggregate to the financial statements of the reporting enterprise as a whole, an enterprise should disclose a brief description of the following:
(a) the main classes of assets affected by impairment losses (reversals of impairment losses) for which no information is disclosed under paragraph 121; and
(b) the main events and circumstances that led to the recognition (reversal) of these impairment losses for which no information is disclosed under paragraph 121.
123. An enterprise is encouraged to disclose key assumptions used to determine the recoverable amount of assets (cash-generating units) during the period.