Section 3063 - Impairment of Long-lived Assets & Goodwill

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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