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IAS – 36 Impairment Losses Calculation

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › IAS – 36 Impairment Losses Calculation

  • This topic has 0 replies, 1 voice, and was last updated 8 years ago by saquibsher.
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  • November 12, 2016 at 9:20 am #348564
    saquibsher
    Participant
    • Topics: 14
    • Replies: 10
    • ☆

    C.V of Assets:

    Building 900
    P&E 300
    Inventory 70
    Other C.A 130
    Goodwill 40

    The C.V value of CGU is 1,440 while the Recoverable Value is 1300.

    MCQs.
    1. What is the C.V of Inventory after adjusting Impairment loss?
    • 64,000
    • 70,000
    • NIL
    • 65,000

    2. What is the C.V of building after adjusting Impairment loss?
    • 900,000
    • 836,000
    • 795,000
    • 825,000

    for question 1 the correct option is NIL, so if we can not pass losses to Inventory then why we include it in CGU C.V (1,440)

    for Question 2 the correct answer is D while i calculated as :

    C.V of CGU = 1440
    Recov. Value = 1300

    Loss will be (1,440 – 1,300) = 140

    C.V of Goodwill = 40

    now after adjusting first against Goodwill the Remaining loss will be (140 – 40 ) = 100

    now against building : (900/1400)x100 = 64.28

    C.V of Building after adjusting Loss = (900-64.2) = 835.71

    Explain this please how they calculated. Thanks

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