In a few circumstances the impairment test for that

  • No School
  • AA 1
  • 16

This preview shows page 3 - 6 out of 16 pages.

amount of intangible assets are measured to check whether the assets are being impaired. In a few circumstances, the impairment test for that asset in the present time the most point to point computation of a recoverable amount made inside the similar period might be utilized. Impairment Assets are used based on Accounting Standards: a) inventories (see AASB 102 Inventories) b) deferred tax assets (AASB 112 of Income Taxes)
Image of page 3

Subscribe to view the full document.

16 Keppel Corporation Impairment of Assets c) venture property that is estimated at reasonable worth (see AASB 140 Investment Property) d) monetary resources that are inside the extent of AASB 9 Financial Instruments e) assets emerging from worker benefits (see AASB 119 Employee Benefits ) f) non-current assets named held available to be purchased by following AASB 5 Non-current Assets Held available to be purchased and Discontinued Operations. g) contract resources and resources emerging from expenses to acquire or satisfy an agreement that is perceived by following AASB 15 Revenue from Contracts with Customers h) deferred obtaining expenses, and immaterial resources emerging from protection contracts inside the extents of AASB 4 Insurance Contracts, AASB 1023 General Insurance Contracts and AASB 1038 Life Insurance Contracts i) organic resources identified with rural movement inside the extent of AASB 141 Agriculture that are estimated at reasonable worth less expenses to sell. Indications of Impairment of Assets: The purpose of AASB136 Impairment of Assets it has been classified into Two Types of information external source of information and internal source of information. The purpose of these lists is not comprehensive. Moreover, the indication that an asset may be impaired may be indicative of the need for review and adjustment of the helpful life, depreciation method or residual value of the asset. Failure inspection of Goodwill: Goodwill must be tested every year for impairment test.
Image of page 4
16 Keppel Corporation Impairment of Assets Goodwill must be appointed, paying little respect to whether the buyer's different resources or liabilities are allocated to such units or gatherings of units, in each cash-generating unit or gathering of units that are relied upon to profit by the joined cost decreases. This represents the lowest level in an entity that is supervised for internal management and that is not greater than an operating segment established according to International Financial Reporting Standard (IFRS) Operating segments. A cash-generating framework to which goodwill has just been appointed will at any rate normally be tried for disability by contrasting the carrying amount, including goodwill just as the recoverable sum units. On the off chance that the units recoverable sum surpasses the units Carrying sum, of unit and the goodwill allotted to the unit won't be debilitated. On the off chance that the units carrying sum arrives at the unit’s recoverable sum, a weakness misfortune must be perceived by the association.
Image of page 5

Subscribe to view the full document.

Image of page 6
  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes