Client Portal

Proposed NFP Amendments to AASB 136

The AASB have issued Exposure Draft ED 269 Recoverable Amount of Non-cash-generating Specialised Assets of Not-for-Profit Entities, which proposes the removal of references to using depreciated replacement cost as a measure of value in use for not-for-profit entities from AASB 136 Impairment of Assets.

The ED also proposes to clarify that many assets of not-for-profit entities that are not held primarily for their ability to generate net cash inflows are typically specialised assets held for continuing use of their service capacity, and given that these assets are rarely sold, their cost of disposal is typically negligible, and their recoverable amount is expected to be materially the same as fair value, determined under AASB 13 Fair Value Measurement.

More details can be found here.

Let us keep you up-to-date

Subscribe to the NFPAS email newsletter to receive not for profit industry news and special updates.