Intangible And IFRS Flashcards
1
Q
How to calculate impairment loss for goodwill when it was included in cash generating unit (CGU)?
A
Comparing CV to recoverable amount, the recoverable amount is the higher of FV-cost to sell or value in use
If goodwill and intangibles are bundled together, impairment is solely on goodwill.
2
Q
When subsequent reversal of a previous impaired loss is recovered?
A
It’s allowed under events and circumstances changes
3
Q
Under IFRS, when revaluation model will be used for subsequent measure?
A
When an active market exist for the intangible assets
