In relation to the impairment of assets,AASB 136 Impairment of Assets,requires the following disclosures for each class of assets:
I The line of the income statement in which impairment losses are included.
II The amount of reversals of impairment losses during the period.
III The amount of impairment losses recognised directly in equity.
IV The beginning and ending balances of any 'provision for impairment' account.

Question

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AASB 136 requires disclosure of all four items for each class of assets. The income statement line in which impairment losses are included must be disclosed to provide transparency on the impact of impairment on the financial performance of the entity. The amount of reversals of impairment losses during the period must be disclosed to show the impact of any changes in the recoverable amount of assets. The amount of impairment losses recognized directly in equity must be disclosed to show the impact of impairment on the financial position of the entity. Finally, the beginning and ending balances of any provision for impairment account must be disclosed to show the changes in the provision for impairment during the period.

In Relation to the Impairment of Assets,AASB 136 Impairment of Assets,requires