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Materiality 30k is not incorrect. I think we should use that as benchmark. They gave asset/revenue/PBT figure to distract us.
Specific enquiries I wrote what is the probability of the internally generated list being bought by competitors? as once sold to them the forecast position should be much lower, which can bargain to get lower purchase price.
New customer directory I wrote about impairment needed. Once impaired, the asset would be much lower. If impaired, how is the recoverable amount determined etc. Then procedure I relate to compare discount factor used to market rate…
does vacant building fulfill conditions of IP? I only know land for no use should accounted using IAS 40.
one of the matters to be discussed question is about vacant property which the owner intends to earn rental income from but not getting legal permission. They reclassified from PPE to IP.
Not too sure about the treatment but I wrote since it is not legal permissible, highest and best use should not be considered. The warehouse should be remained as PPE and gain from revaluation should be recorded in OCI instead of P/L.
Still confused, hope can gain enough marks to pass. Crown group risks info is like here a bit, there a bit. After exam only can connect all the info given lol