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Hi Mike!
I actually have an issue concerning impairment of assets.
Could explain, in a CGU situation,what’s the logic or purpose of writing down the goodwill to $0?
Thanks.
If aggregate assets are carried at an amount greater than their fair value (hence the need for an impairment) you may as well get rid of the intangible that was created on the acquisition of a subsidiary
Then we’re on more solid ground so let’s look at the tangible assets and compare their fair values with carrying values
At least, with these tangible assets, there are matters of physical substance and fair value should be relatively easy to determine
Will that do it for you?
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