Applying financial reporting standards can be quite complex. The BDO team can help you assess your situation and prepare for the opportunities and challenges involved.
Section 3475 applies to:
- Disposal of non-monetary long-lived assets, including property, plant and equipment, intangible assets with finite useful lives and long-term prepaid assets.
Section 3475 does not apply to:
- Investments, including equity method accounted investments (see Section 3051).
- Financial assets, financial liabilities and contracts to buy or sell non-financial items accounted Instruments.
- Oil and gas assets accounted for using the full cost method (see AcG-16).
- Unproved oil and gas properties accounted for using the successful efforts method.