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注会综合阶段英语水平提升班——第五单元2

t-admin154 网校老师 发表于 2017-10-29 16:19:57 | 评论:0  查看:567次 [注会英语]
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Unit 5 Financial Reporting Standards
The second part
4. Impairment of assets
一、Key terms
Impairment loss:                                                 减值损失
Recoverable amount:                                           可收回金额
Carrying value:                                                账面价值
Fair value minus the disposal expenses ( FV less cost to sell) :
公允价值减去处置费用
Current value of the expected future cash flow of the assets
( Value in use ):                                                 预计未来现金流量的现值
Individual asset:                                                个别资产
Group asset ( cash generating unit):         资产组
Impairment test (review):                                 减值测试
Reversal of impairment:                                 减值的转回
Impairment signs (indicators):                         减值迹象
二、Key points
1.The objective of IAS 36 Impairment of assets is to set rules to ensure that the assets of an enterprise are carried at no more than their recoverable amount.
IAS 36 的目标在于制定准则,以确保资产的账面价值不能高于它们的可回收金额。
2.An asset has been impaired if its carrying value in the Statement of Financial Position exceeds its recoverable amount.
Carrying Value > Recoverable Amount
file:///C:\Users\ASUS\AppData\Local\Temp\ksohtml\wps9F15.tmp.pngGreater of
Fair value less costs to sell     Value in Use (PV of future cash flow)
如果资产的账面价值大于它的可收回金额,该资产发生了减值。资产的可收回金额是可变现净值和未来现金流量现值中较高者。
3.An entity should assess at the end of each reporting period whether there are any indications of impairment to any assets. (external and internal )
企业应在每一个报告期末评估是否有资产减值的迹象。(外部和内部)
4.Impairment losses are recognized in the Statement of Comprehensive Income immediately.
资产减值损失要立即确认在综合收益表中。
5.If it is not possible to calculate the recoverable amount for an individual asset, the recoverable amount of the asset’s cash-generating unit should be measured instead.
如果个别资产的可收回金额无法计算,就要计量该资产所属的资产组的可回收金额。
6.Cash generating unit is the smallest identifiable group of assets for which independent cash flows can be identified and measured.
现金产生单元是最小的可辨认资产组,该资产组产生的独立现金流能够被识别和计量。
7.A cash-generating unit to which goodwill has been allocated is tested for impairment annually.
被分配了商誉的现金产生单元每年要进行减值测试。
图片1.png
8.When an impairment loss is recognized for a cash-generating unit, the loss should be allocated between the assets in the unit in the following order:
1st goodwill allocated to the group of assets
2nd other assets on a pro-rated basis
如果现金产生单元确认发生了减值损失,该损失按如下顺序分配:
分配到该资产组的商誉
按比例分配给其他资产
9.In allocating the impairment loss, the carrying amount of an asset should not be reduced below the highest of: (1)net selling price (2)Value in use (if determinable) and (3) zero.
抵减后的各资产的账面价值不得低于以下三者之中最高者:该资产的公允价值减去处置费用后的净额,该资产预计未来现金流量的现值和零。
10.When an enterprise conducts an impairment test on a certain asset group, it shall first determine all the assets of the headquarter which are related to the asset group, then take into consideration whether the assets of the headquarter can be apportioned to this asset group on a reasonable and consistent basis.
当企业对某资产组进行减值测试,首先应确定与资产组相关的总部资产,而后考虑总部资产是否能够以合理一致的基础分配到资产组。
三、Practice question
Practice question 1:
At 1 January, an entity paid $2,800 for a company whose main activity consists of refuse collection. The acquired company owns four refuse collection vehicles and a local government licence without which it could not operate.
At 1 January, the fair value less costs of disposal of each lorry and of the licence is $500.  The company has no insurance cover.
At 1 February, one lorry crashed.  Because of its reduced capacity, the entity estimates the value in use of the business at $2,220.
Required: Show how the impairment loss would be allocated to the assets of the business.
Solution:
1 January
Impairment loss
1 February
Goodwill
300
(80)
220
Intangible asset
500
500
Lorries
2,000
(500)
1,500
2,800
(580)
2,220
An impairment loss of 500 is recognised first for the lorry that crashed because its recoverable amount can be assessed individually.  (It no longer forms part of the cash-generating unit that was formed by the four lorries and the licence.)
The remaining impairment loss (80) is attributed to goodwill.
Practice question 2:
Following on from Example 1.
At 22 May, the government increased the interest rates. The entity re-determined the value in use of the business as $1,860.  The fair value less costs of disposal of the licence had decreased to $480 (as a result of a market reaction to the increased interest rates).  The demand for lorries was hit hard by the increase in rates and the selling prices were adversely affected.
Required: Show how the above information would be reflected in the asset values of the business.
                                  Impairment
G/W                                 (220)
Intangible Asset                  140×1/4=35
Lorries                           140×3/4=105
                                  360
Solution:
1 February
Impairment loss
22 May
Goodwill
220
(220)
Intangible asset
500
(20)
480
Commentary 1
Lorries
1,500
(120)
1,380
Commentary 2
2,220
(360)
1,860
Commentary 1
220 is charged to goodwill to reduce it to zero.  The balance of 140 must be pro-rated between the remaining assets in proportion to their carrying value.
The ratio that the remaining assets bear to each other is 500:1,500.  This implies that 25% × 140 = 35 should be allocated to the intangible asset.  However this would reduce its carrying value to below its fair value less costs of disposal and this is not allowed.  The maximum that may be allocated is 20 and the remaining 15 must be allocated to the lorries.
Commentary 2
The amount that is allocated to the lorries is 75% × 140 = 105 + 15 =120.

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