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professor can you tell me the difference between the 2sentences?
1st- The disclosure note does not say how many years the cash flow forecasts covered.
V/s
2nd-The note does not say how many years’ worth of cash flows have been extrapolated beyond the end of the budgeted period.Company may estimate cash flows through judgement or by extrapolation (for longer periods of time).
If you are interested pages 30 onwards of:
https://www.grantthornton.global/globalassets/1.-member-firms/global/insights/article-pdfs/2014/ias36-impairment-of-assets-a-guide-to-applying-ias36-in-practice.pdf#:~:text=IAS%2036%E2%80%99s%20guidance%20is%20detailed%2C%20prescriptive%20and%20complex,also%20requires%20a%20significant%20degree%20of%20professional%20judgement.
But, a bit over the top for the exam!
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