Forum Replies Created
- Posts
i missed the figures then. you know time issues. if my memory serves me right, there was mention of recoverable amount(found by the Client) which was equal to the carrying value. hence no impairment. correct me if i am wrong.
AAA Q2 Impairment test, there was no impairment. however, the fall in revenue due to the new competitor would call for disclosure of “going concern” issues. Therefore an “Emphasis of matter” paragraph is needed. Unmodified Opinion Emphasis of Matter.
On revenue, Kaplan says you can use either the expected values or the most likely amount.
In our case i think the expected values (F9) would work.ie %*Profit + %*Profit.
Q1, i found there was no impairment of goodwill on the first subsidiary, but there was one on the held for sale subsidiary.
Q2, business model, just discussed intent ie whether speculative or held to maturity then classification as measured at fair value or amortised cost.
Q2 Lease, just realised it was an operating lease and lessor accounting rules apply.
This paper was a nightmare for me!!!
