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Just Finished Dec 12 Question Minny Bower and Heeny, which is one of the easier question 1’s of the last few years but one thing that gets me with this question which never seems to occur with great frequency is the issue of Impairment.
Normally I take the year end Net Asset figure and Combine it with Goodwill. This Question you use the total asset figure off the balance sheet, then add goodwill to get the answer. In fact my way shows no impairment at all.
Just wondering if you can explain this issue. Thanks in Advance
I Should probably clarify my figures a little more to do my working i use.
Share Capital
Reserves
OCE (if applicable)
All these figures adjusted for Growth then add the goodwill.But this Question used a total asset figure so for example it added up the other parts of the SOFP, like Current and Non Current Liabilities to get a total Asset figure. Is there a way to know which method should be used
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