What does 63-66 require?

Whether an item is impaired, how recoverable amount is determined and when an impairment loss is recognised or reversed are all governed by AASB 136. Compensation from third parties (insurers, governments, counterparties) for items impaired, lost or surrendered is recognised in profit or loss once it becomes receivable, not at the time of the loss. Four events are kept apart: the impairment under AASB 136, the derecognition of the item retired or disposed of under this Standard, the compensation recognised once receivable, and the cost of the restored, purchased or constructed replacement measured under this Standard.

AASB 116 Property, Plant and Equipment 63-66: Impairment...

Other controls in Measurement after recognition: cost model, revaluation model, depreciation and impairment (paragraphs 29 to 66, Aus39.1, Aus40.1, Aus40.2) – AASB 116 Property, Plant and Equipment

29-30 Accounting policy choice: adopt either the cost model or the revaluation model for each whole class of PPE; owner-occupied property held in unit-linked funds or as insurance underlying items may instead use the AASB 140 fair value model as a separate class
31-38 Revaluation model: carry items whose fair value is reliably measurable at fair value at the revaluation date less later depreciation and impairment, revalue often enough that carrying amounts stay close to fair value, revalue whole classes together, and adjust accumulated depreciation consistently
39-42,Aus39.1-Aus40.2 Revaluation movements: credit increases to other comprehensive income and the revaluation surplus (through profit or loss only to reverse an earlier loss), charge decreases to profit or loss except against an existing surplus for that asset; not-for-profit entities account on a net class basis; surplus transfers to retained earnings bypass profit or loss
43-49 Component depreciation: depreciate separately each part whose cost is significant relative to the whole item, grouping parts with the same life and method, depreciate the remainder, and recognise the charge in profit or loss unless it forms part of another asset's cost
50-59 Depreciable amount and period: allocate cost less residual value systematically over useful life, review residual value and useful life at least each year end as a change in estimate, depreciate from availability for use until held-for-sale classification or derecognition, consider usage, wear, obsolescence and legal limits, and treat land and buildings separately
60-62A Depreciation method: use a method that mirrors how the asset's benefits are consumed over time, review it at least each year end and change it as a change in estimate when the pattern changes, and never base it on revenue

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The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.

MCP endpoint All AASB 116 Property, Plant and Equipment controls