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impairment

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › impairment

  • This topic has 3 replies, 2 voices, and was last updated 8 years ago by P2-D2.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • August 19, 2016 at 1:54 pm #334080
    nagadya
    Member
    • Topics: 11
    • Replies: 1
    • ☆

    Hello June 2014 qsn 3 minco part d, there a gain restricted to offset the impairment but it looks like the after ofsetting the impairment was not recognised anywhere. Please help me understand this restriction condition

    August 23, 2016 at 8:20 am #334658
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7172
    • ☆☆☆☆☆

    Hi,

    I think that should answer your question, let me know if you’re still stuck.

    Thanks

    August 24, 2016 at 7:19 am #334860
    nagadya
    Member
    • Topics: 11
    • Replies: 1
    • ☆

    Thank you. But now for the case of that qsn above. Where does the balance of 100,000 go after impairment reversal.

    August 24, 2016 at 4:25 pm #334936
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7172
    • ☆☆☆☆☆

    Hi,

    We cannot record any reversal above the historic cost of the asset, so the 100,000 wouldn’t appear in the financial statements.

    Thanks

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