Commission Regulation (EU) No 1374/2013 adopts Recoverable Amount Disclosures for Non-Financial Assets (Amendments to IAS 36)

The Commission Regulation (EU) No 1374/2013 of 19 December 2013, published in the Official Journal of the European Union L 346 on 20 December 2013, adopts Recoverable Amount Disclosures for Non-Financial Assets (Amendments to IAS 36 Impairment of Assets).

The objective of the amendments is to clarify that the scope of the disclosures of information about the recoverable amount of assets, where that amount is based on fair value less costs of disposal, is limited to impaired assets.

Each company shall apply the amendments, at the latest, as from the commencement date of its first financial year starting on or after 1 January 2014.