Section 3063: Impairment of Long-lived Assets & Goodwill

December 01, 2014

SCOPE

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.
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