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ACCA P2 Impairment – Associate
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When we test for impairment of an Associate-
Should the carrying value of an associate, to test for impairment, be:
Cost of Associate
Add % share of Post Acquisition profit to date
and should we less
Impairment of goodwill to date?
It does not apply to this question as the acquisition took place during the year. What if the acquisition took place a few years ago?
what would happen if dividends were declared?
Please what is the journal entry for impairment in associate?.
Thank you.
DR Group retained earnings $0.5m
CR Investment in Associate $0.5m
Please sir could you answer this question for me
On the lecture on basic consolidation Example 2: Rey acquired Finn on 1 January 2014 and the requirement is to prepare Rey SFP as at 31 December 2015.
On the depreciation figure I don’t understand why it is two years (400/10)*2 yrs instead of one year – 2014 to 2015?
Hello Bridget, probably the reason why he seems not to attend to you is at this level some questions are sacred. Let me give you some clue. From 1st January 2014 to 31st December 2015 is how many months and how many months makes a year?. Thanks and have a lovely day.
1/1/2014-31/12/2014=1yr
1/1/2015-31/12/2015=1yr
Accumulated Dep. 2yr
Dep. Expense 1yr
Hope this helps.