Hello Christopher, I am thankful for this class as well as the other classes they have been very helpful. Thank you Christopher and the Open Tuition team, God bless you all. Out of curiosity; 1) Should the new carrying value after impairment of buildings be used to calculate the next year's depreciation? 2) If the total value of buildings were scrapped out while allocating impairment should buildings be written off from the accounts? If yes, how? 3) Also if the total value of buildings were scrapped out while allocating impairment and some impairment still remains can Plant & Equipment be further impaired? Thank you again for being available.
Outspan Holdings (Out-Span) holds 100% interest in City-Bolts Ltd (City-Bolts). City-Bolts has a business unit that manufactures and sells bolts in Belmont, Bulawayo. The assets used in the business unit qualify to be a Cash Generating Unit (CGU). The following information relates to the carrying amounts of assets at 31 December 2019. $ Machinery 33 600 Equipment 36 000 Furniture 50 400 Goodwill 30 000 150 000 At the same date there were indications that the business unit might have been impaired. The only fair value less costs to sell of individual asset where an active market was available was furniture and its fair value amounted to $45 600 net of costs to sell. A professional valuer estimated the value in use of the business unit at $ 98 400 and the fair value less costs to sell the whole at $84 000. How about is one
Love this guy's attitude, it's good to see someone readily accept that business has nonsense concepts like goodwill
This is a really good lecture. So underrated. Thank you so much for this content
I've read SO MANY explanations for allocation of impairment but RARELY seen an example. SO GLAD I FOUND THIS !!
Hey i have one doubt, if u dont mind can i ask u?
This was very informative, got to fully understood the concept clearly! Thank you!
If only i knew your lecture before I bought a $300 FR course which was completely a waste of money :). Thanks a lot, wish you all the best Christ
Wow!
This video is awesome 👌
Thanks a lot..
Very practical and well explained Sir🙂🙂
Thanks very much.. IAS 36 is much more clear
Can I get reversal impairment loss
thanks a lot
Good explaination 🖤🥺
Thank you!
Hello Christopher,
I am thankful for this class as well as the other classes they have been very helpful. Thank you Christopher and the Open Tuition team, God bless you all.
Out of curiosity;
1) Should the new carrying value after impairment of buildings be used to calculate the next year's depreciation?
2) If the total value of buildings were scrapped out while allocating impairment should buildings be written off from the accounts? If yes, how?
3) Also if the total value of buildings were scrapped out while allocating impairment and some impairment still remains can Plant & Equipment be further impaired?
Thank you again for being available.
Please ask in the Ask the Tutor Forum on our website (tutors cannot monitor all questions here).
@@opentuition thank you. 🎈
Why won't we allocate an impairment loss to financial assets??
This guy is a legend lol
Should I include research cost
Which Book to follow for preparation Sir??
Check description
why impair goodwill with the total carrying value
Our tutors do not always see comments here, so please ask in the FR Ask the Tutor Forum on our website and then you will get an answer :-)
Goodwill is always 100% impaired first.
@@alm5267 Unless specific assets are subject to impairment then Good will come second.
My June SBL exam was centred around a Theme Park!
Which it does 😏
Volkman Isle
Laila Port
Outspan Holdings (Out-Span) holds 100% interest in City-Bolts Ltd (City-Bolts). City-Bolts
has a business unit that manufactures and sells bolts in Belmont, Bulawayo. The assets used
in the business unit qualify to be a Cash Generating Unit (CGU). The following information
relates to the carrying amounts of assets at 31 December 2019.
$
Machinery
33 600
Equipment
36 000
Furniture
50 400
Goodwill
30 000
150 000
At the same date there were indications that the business unit might have been impaired. The
only fair value less costs to sell of individual asset where an active market was available was
furniture and its fair value amounted to $45 600 net of costs to sell. A professional valuer
estimated the value in use of the business unit at $ 98 400 and the fair value less costs to sell
the whole at $84 000.
How about is one