Issuance of Revised SB-FRS 1002 Impairment of Non-Cash-Generating Assets and Implementation Guidance
28 NOV 2022
Issuance of Revised SB-FRS 1002 Impairment of Non-Cash-Generating Assets and Implementation Guidance
28 Nov 2022
A revised SB-FRS 1002 Impairment of Non-Cash-Generating Assets, including a revised Implementation Guidance, effective for annual periods beginning on or after 1 January 2023, have been issued. Early application is permitted.
The key amendments made to SB-FRS 1002 are:
| Paragraphs | Key Amendments |
|---|---|
| 5A, 13A | Specified that non-cash-generating right-of-use asset is within the scope of the Standard |
The key amendments made to the Implementation Guidance are:
| Paragraphs | Key Amendments |
|---|---|
| C2 | Included an illustrative example on disclosure for reversal of impairment loss |