What does 66-73 require?

Where a sign of impairment exists the entity first tries to estimate recoverable amount for the individual asset; where that is impossible, because value in use cannot be taken as close to fair value less disposal costs and the asset's cash inflows are not largely independent of other assets, recoverable amount is estimated for the unit that contains the asset. That unit is the lowest aggregation of assets producing largely independent inflows of cash from outside parties, a judgement informed by how management monitors the business (product lines, businesses, locations, districts, regions) and how it decides to continue or dispose of assets and operations. Where the output of an asset or group can be sold on an active market, that asset or group is a unit even if some or all output is consumed internally, and where internal transfer pricing affects any unit's inflows, management's best estimate of arm's length future prices is used for both the unit's inflows and the outflows of the units it supplies. The same assets are kept in the same units from one period to the next unless a change is justified, and a change in a unit's composition is disclosed under paragraph 130 when a loss is recognised or reversed.

AASB 136 Impairment of Assets 66-73: Identify the...

Other controls in Cash-generating units, goodwill, corporate assets and non-controlling interests (paragraphs 65 to 108, Appendix C) – AASB 136 Impairment of Assets

100-103 Corporate assets: identify every corporate asset relating to the unit under test; allocate the portion of its carrying amount that can be allocated reasonably and consistently to the unit and test the unit including it; where it cannot be allocated, test the unit without it, then identify the smallest group of units to which it can be allocated and test that group including the allocated portion
104-108 Impairment loss for a unit: recognise it only when the unit's recoverable amount is below its carrying amount, allocate it first to goodwill and then to other assets pro rata by carrying amount, never reducing an asset below its fair value less disposal costs, its value in use or zero, whichever is highest, treating each reduction as an individual asset loss; recognise any remainder as a liability only if another Standard requires
74-79 Determine a unit's carrying amount on the same basis as its recoverable amount: include only assets attributable directly, or allocated reasonably, to the unit that produce its cash inflows, exclude recognised liabilities unless recoverable amount cannot be determined without them, and adjust for any other assets or liabilities included in the recoverable amount for practical reasons
80-87 Allocate acquired goodwill from the acquisition date to the units or groups of units expected to benefit from the combination's synergies, at the lowest level at which management monitors goodwill and no larger than an operating segment before aggregation; finish the allocation by the end of the following annual period; on disposal of an operation or a reorganisation, reallocate goodwill on relative values unless a better method is demonstrated
88-99 Test units with goodwill: a unit to which goodwill relates but is not allocated is tested when indicators arise, excluding goodwill; a unit with allocated goodwill is tested annually and on any indicator by comparing its carrying amount including goodwill with recoverable amount; test at the same time each year and within the year of acquisition, test individual assets and lower units first, and carry forward a prior calculation only under the three conditions
AppC-C1-C9 Partly owned units with goodwill: where non-controlling interests are measured at their proportionate share of net assets, gross up the unit's goodwill for the goodwill attributable to them before comparing with recoverable amount, allocate any loss between parent and non-controlling interests in the profit-sharing proportions, and recognise only the parent's share of a loss on unrecognised goodwill

Query this from an agent

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

MCP endpoint All AASB 136 Impairment of Assets controls