summary PPE IP Intangible assets (week 5 6 9).docx

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SUMMARY (PPE, IP, INTANGIBLE ASSETS, IMPAIRMENT OF ASSET) Week 5 (PPE and IP) PPE (exchange of assets) Example: Property (with carrying amount: $10 million) Ship (market value: $20 million) Additional sum of cash: $5 million) (1) Commercial substantial: Dr ship $20 Cr property $10 Cr cash $5 Cr gain on disposal $5 (2) NO commercial substantial: Dr ship $15 Cr property $10 Cr cash $5 PPE (revaluation model) 留意 assets 之前有無 revaluation surplus or revaluation deficit 洗吾洗將 PART of revaluation surplus(revaluation reserve -> transfer to retained earning revaluation reserve: 留意用 year 除定 month IF REVALUE 過嘅 ASSET SOLD: 都會計埋個一年嘅 revaluation surplus IP (cost model) depreciation/ accumulated depreciation IP (fair value model) Dr PPE Cr fair value gain(P/L) Week 9 (Impairment of assets)
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Revaluation deficit (an individual asset is measured using the revaluation model - >impairment loss=revaluation deficit) Fair value( 吾洗理 cost of disposal) Impairment loss (an individual asset is measured using the cost model ->income statement show impairment loss) Fair value through cost of disposal vs value in use ( 睇下邊個高 D) Value in use 要計番 present value 先去比較 Fair value through cost of disposal 要減番 cost of disposal Allocation of impairment loss to CGU If 之前有
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