Prepare the journal entry for any impairment loss

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Reference no: EM131502011 , Length: 1500 Words

Part A -

Write a 1000 word short essay about the following: Impairment loss for Cash generating units including Goodwill.

Part B -

"Gali Ltd has determined that its fine china division is a CGU. The carrying amounts of the assets at 30 June 2015 are as follows:"

Account

Carrying Amount

plant

106000

Equipment

24000

Fittings

15000

Inventory

6000

Goodwill

5000

Total CA

156000

Gali Ltd calculated the value in use of the division to be: 141000

If the fair value less costs of disposal of the plant is: 102345

Required - Prepare the journal entry(ies) for any impairment loss occurring at 30 June 2015 including supporting calculations.

This assignment has 2 parts, 1000 + 10% word theory interpretation essay and a response to a practical application of the theory.

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The said paper is in relation to analyzing the the manner of impairment of a cash generating unit.Here we have first of all discuss the the general provision of recognition and measurement of impairment loss as per IAS - 36 Impairment of asset, then we have discussed about the treatment of impairment loss in case of a cash generating unit.Then we have solved a practical example of impairment of a CGU.

Reference no: EM131502011

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inf1502011

6/15/2017 5:23:13 AM

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inf1502011

6/15/2017 5:22:59 AM

This is assignment and u have to select my student ID which is (......) And then solve the following questions in Microsoft word thanks. Remember to select student ID : You have to select my student id in excel file as then do the solution with that values. You have to do solution in microsoft word as it is done but have to use different values from excel files When u select student ID, it will give u different values

len1502011

5/20/2017 1:54:21 AM

Prepare your assignment including Part A and part B in Microsoft Word. This assignment has 2 parts, 1000 + 10% word theory interpretation essay and a response to a practical application of the theory. The assignment must be typed, use Arial font, 12, to avoid plagiarism, make sure you do proper referencing, at least use 6 references, to be submitted the soft copy in Turnitin and hard copy in lecture Week 10. Please ensure you attach a KOI assignment cover sheet, with ID numbers and signed. Late assignments will be penalised, 10% deduction per day.

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