AASB 136 Impairment of Assets requires which of the following disclosures for each class of assets: I The line item(s) of the statement of profit or loss and other comprehensive income in which impairment losses are included.
II The amount of reversals of impairment losses during the period.
III The amount of impairment losses recognised directly in other comprehensive income.
IV The beginning and ending balances of any accumulated impairment account.

A) I, II and III only.
B) I, II, III and IV.
C) II and IV only.
D) IV only.

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Sammy Sabalesky · Accepted Answer

Final Answer : A, Explanation :  AASB 136 requires disclosures for each class of assets including the line items in the statement of profit or loss and other comprehensive income where impairment losses are included (I), the amount of reversals of impairment losses during the period (II), and the amount of impairment losses recognised directly in other comprehensive income (III). It does not specifically require disclosure of the beginning and ending balances of any accumulated impairment account for each class of assets.

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