Disclosures under IFRS

Disclosures for PPE

• Measurement basis
• Depreciation method
• Estimated useful lives or equivalent depreciation rate
• Gross carrying amount and accumulated depreciation
• Reconciliation of carrying amounts at beginning and end

The following additional disclosures are required:

• Restriction on title and pledges as collateral of property
• Equipment and contractual agreements to acquire PPE

If revaluation model is used, the firm is required to disclose:

• Date of revaluation
• How fair value was determined
• Carrying amount under cost method
• Revaluation surplus

Disclosures for Intangible Assets

• Whether indefinite or finite
• If finite life:
  • Useful life of each intangible asset
  • Amortization method used
  • Gross carrying amount and accumulated amortization
  • Reconciliation of carrying amounts at beginning and end
• If indefinite asset:
  • Disclose carrying amount of asset and why it is considered indefinite
• Restriction on title and pledges as collateral of intangible assets
• Equipment and contractual agreements to acquire intangible assets

Disclosures for Impaired Assets

• For each asset class, the amount of impairment losses
• Reversal of impairment losses recognized in the period
• Where impairment losses and loss reversals are recognized in the income statement
• Main events and circumstances leading to recognition of impairment losses

Disclosures under US GAAP

Disclosures for PPE and Intangible Assets are same

• Gross carrying amount and accumulated depreciation for major asset classed or in total
• General description of depreciation methods used
• Aggregate amortization expense
• Estimated amortization expense next 5 years

Disclosures for Impaired Assets

There is no reversal of impairment losses, so no related disclosures. The firm must disclose:

• Description of impaired asset
• Reason for impairment
• Method for determining fair value
• Amount of impairment loss
• Where impairment losses are recognized in the income statement