[R2-D2]

I passed the RAP with an A grade. Initially, I wanted to go with an experienced mentor but found myself short of the required funds. So, I decided to go with an inexperienced mentor who charged me less than $60, this was scary however the mentorship was decent, the mentor tried his best to help me all the way. I also spend countless hours going through the different threads in this forum that discussed why students failed and what students must do to pass, I must say that this helped me a lot. Thanks so much to the OT team for making this space to help support the students.

Congratulations to all others who have passed. To the ones who didn’t, don’t lose hope; you can do it.

[R2-D2]

Bpp revision kit q38)

A cash-generating unit comprises the following assets:
Building-700
Plant and equipment-200
Goodwill-90
Current assets-20

Following an impairment review, it was discovered that an item of plant, carried at
$40,000, is damaged and will have to be scrapped. The recoverable amount of the cash­
generating unit is estimated at $750,000.

Doubt (2):
There was a specific asset impairment related to plant and equipment in both the above said BPP kit question and OT example 3 of chapter 7, but in the opentuition example, we did not allocate the remaining impairment loss (after the specific impairment and goodwill allocation) to the remaining plant and equipment, whereas in the above bpp question, we did.

I’m unsure whether the remaining impairment loss should be allocated to the remaining plant and equipment…?

[Author]

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