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impairment loss

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › impairment loss

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by P2-D2.
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  • April 29, 2021 at 11:02 pm #619234
    thapa7
    Member
    • Topics: 5
    • Replies: 6
    • ☆

    sir,
    if the question says goodwill has been impaired by 2million , we need to credit goodwill by 2million right?
    but in bpp practise book question number 309 (a) , they havent credited goodwill for impairment loss ? why is that ?

    May 1, 2021 at 12:55 pm #619367
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6473
    • ☆☆☆☆☆

    Hi,

    Yes, an impairment is the reduction in the value of the goodwill asset. A credit entry is therefore required to reduce the goodwill be the 2 million.

    Thanks

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