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The going concern question regarding fire occur after year end but client believes no impact. How do you approach it? Does it consider as non adjusting event? Client to disclose in notes to the account? And auditor should disclose in MURGC paragraph?
Question 1:
1. land used for factory converted to residential. The company has no intention to convert it but government encourages other companies to convert to residential. I believe the highest and best use would be current use which is factory because there is no clear decision whether to convert it to residential. Anyone have different view?
2. Is goodwill the only impaired item for both methods? The total impairment amount can only allocated to goodwill as the impairment amount is not huge to allocate to other items.