What does 28-29 require?

In measuring fair value less disposal costs, the entity deducts the incremental costs directly attributable to disposing of the asset, except any already recognised as liabilities: for example legal fees, stamp duty and similar transaction taxes, the cost of removing the asset, and the direct incremental cost of readying it for sale. Termination benefits under AASB 119 and the costs of shrinking or reorganising the business after the disposal are not disposal costs. Where a sale would require the buyer to take on a liability and only a single figure is available for the asset and liability together, paragraph 78 applies.

AASB 136 Impairment of Assets 28-29: Costs of disposal...

Other controls in Measuring recoverable amount: fair value less disposal costs, value in use and the discount rate (paragraphs 18 to 57, Appendix A) – AASB 136 Impairment of Assets

18-23 Recoverable amount principles: it is the higher of fair value less disposal costs and value in use, only one needs measuring if it exceeds carrying amount, value in use may stand alone where fair value cannot be reliably measured and vice versa, and recoverable amount is measured per asset unless the asset's cash inflows are not largely independent, in which case per cash-generating unit
24 Carry forward the prior detailed recoverable amount calculation for an indefinite-life intangible only if its unit's assets and liabilities have not changed significantly, the prior calculation showed comfortable headroom over carrying amount, and events since make a shortfall remote
30-32 Value in use: reflect the expected future cash flows, their possible variability, the time value of money at the current risk-free rate, the price of bearing the asset's uncertainty and other market factors including illiquidity, either within the cash flows or within the discount rate, so that the result is the expected present value
33-38 Basis for cash flow projections: use reasonable and supportable assumptions representing management's best estimate with more weight on external evidence, start from the latest approved budgets or forecasts for at most five years unless a longer period is justified, exclude uncommitted restructurings and enhancements, and extrapolate beyond the budget period at a flat or falling growth rate capped at the long-term average for the product, industry, country or market unless a higher rate is justified
39-43 Composition of cash flows: include the inflows earned while the asset stays in use, the directly attributable or reasonably allocated outflows needed to earn them (day-to-day servicing, attributable overheads and remaining costs to finish an incomplete asset), and net disposal proceeds at the end of useful life; keep inflation treatment consistent with the discount rate; exclude inflows from independent assets and outflows for recognised liabilities
44-49 Project cash flows for the asset as it stands today: exclude the effects of restructurings the entity is not yet committed to and of future enhancements, include the benefits of a restructuring once committed under AASB 137 together with its provision, and include maintenance outflows and replacement of shorter-lived components as day-to-day servicing
50-54 Exclude financing cash flows and income tax from the projections, estimate end-of-life disposal proceeds on an arm's length basis using current prices for similar assets adjusted consistently for inflation, recognise that fair value ignores entity-specific synergies, rights and tax attributes, and estimate foreign currency cash flows in their own currency with a matching rate before translating at the spot rate
55-57,A15-A21 Discount rate: use a pre-tax rate reflecting the market's current pricing of money's time value and of asset-specific risks not already in the cash flows, derived from market rates for comparable assets or the cost of capital of a comparable listed entity, or from surrogates such as the entity's own cost of capital, incremental borrowing rate or other market rates adjusted for asset risk, country, currency and price risk and unaffected by the entity's capital structure

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MCP endpoint All AASB 136 Impairment of Assets controls