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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