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 3063 applies to:
- Non-monetary long-lived assets, held for use, including property, plant and equipment, intangible assets with finite useful lives and long-term prepaid assets.
Section 3064 applies to:
- Goodwill subsequent to initial recognition and intangible assets with indefinite useful lives.
Section 3063 does not apply to:
- Long-lived assets to be disposed of (see Section 3475).
- Goodwill and intangible assets with indefinite useful lives (see Section 3064).
- Investments, including equity method accounted investments (see Section 3051).
- Defined benefit assets (see Section 3462).
- Future income tax assets (see Section 3465).
- Financial assets, financial liabilities and contracts to buy or sell non-financial items accounted for in accordance with Section 3856, Financial 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.