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Hi Sir, I have a few queries and would appreciate your help.
How often should intangible assets with indefinite life be tested for impairment?
If you have a intangible asset and you are given its value and the fv movement at the end of the year and question asks what’s the COST to be charged to the p/l. Do you amortise based on the value at the year end or do you charge the amortisation based on the value at the start of the year?
If you have a subsidiary which sells goods to parent at a mark up once the pup has been determined do you multiply the pup by the shareholding of the sub then bring the unrealised
Profit into retained earning or just the pup.If issue costs are incurred with respect to loan notes and question states they are charged to admin expenses is it wrong to move these costs over to finance
Costs?Annually
Amortise on the basis of the value at the start of the year and then revalue at the end of the year
Deduct 100% of the pup from the subsidiary’s retained earnings and then allocate those reduced earnings in proportion to consolidated retained earnings (parent’s share) and nci (nci share)
If the loan notes are states as being at fair value through profit or loss, the issue costs should be shown as a finance cost and not an administrative expense
If the notes are not at fair value through profit or loss the issue costs should be deducted from the value of the loan notes
OK?
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