Quiz 09 Submission View Question Set Question 1 0.5 / 0.5 points Goodwill is only recorded when generated internally. can be subdivided and sold in parts. can only be identified with the business as a whole. can be defined as normal earnings less accumulated amortization. Question 2 0.5 / 0.5 points All of the following are intangible assets except land. patents. copyrights. leaseholds. Question 3 0.5 / 0.5 points The cost of a long-lived asset (except land) is expensed
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discounting the cash flows for the Macinaw Division and which of the appropriate discount rate for computation of goodwill impairment. The case mentioned about impairments which will be written down after the assets are tested for impairments and how the impairment loss will be allocated among group of assets. The audit memo gives the answer about whether long-lived asset or goodwill write-downs due to impartment or write-ups if the fair value subsequently increases. Fact: To take advantage of
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Outline Worksheet I. Preliminary Work Before you begin‚ look through your sources. What is the main purpose of each source? What are the major conclusions your sources come to? Make a list of all the main ideas related to your project topic: - The purpose of each source is to help us find how food manufacturers are killing society by false advertisement and genetically modified food. The conclusions are the following: Sickness due to chemical or biological components in food‚ using
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Creative Industry- Music Industry | | Student Name: Lily Lee | Contents: 1.0 Introduction: 2 2.0 Music Industry: 2 2.1 Music Industry Value Chain 4 2.11 Beginning: 4 2.12 Production: 5 2.13 Circulation: 5 2.14 Distribution: 5 2.15 Consumption: 6 3.0 Technology Globalization impact on Music Industry: 6 4.0 Trade Globalization impact on Music Industry: 8 5.0 Conclusion: 9 6.0 Reference: 11 7.0 Appendix: 12 Appendix 1: The Core Cultural Industries 12 Appendix 2: Music Industry Value Chain
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company assigns the cost‚ where possible‚ to the identifiable tangible and intangible assets‚ with the remainder recorded as goodwill. 13. Goodwill is considered a master valuation account because it measures the value of specifically identifiable intangible assets. 14. Internally generated goodwill should not be capitalized in the accounts. 15. Internally generated goodwill associated with a business may be recorded as an asset when a firm offer to purchase that business unit has been received
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Introduction…………………………………………………………………………….....1 1.1 Relationship between Holding/parent company- subsidiary………………………….2 2.1 Consolidated Financial Statement…………………………………………………….4 3.1 The concept of Goodwill……………………………………………………………...5 3.1.1 Computation of Goodwill…………………………………………………………...6 3.1.2 Computation of negative Goodwill………………………………………………...7 4.1 The recommendation of the IASB……………………………………………………8 5.1 IFRS 36 Impairment of Assets………………………………………………………..9 6.1 IFRS 38 Intangible Assets…………………………………………………………
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Property Plant and Equipment Carrying amount of the Property‚ Plant and Equipment at reporting date of JB-HiFi According to AASB 116 Property‚ plant and equipment held beyond the normal operating cycle of entity are deemed to be non-current assets. Here’s the extract from the report. [pic] Descriptions: Carrying Amount of PPE is $163‚982‚ 000‚ which is made up of the figure of plant &equipment which is $106‚560‚000 add to the Leasehold improvements which is $57‚422‚000 come out as the total
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addresses Goodwill is 350-20 and the codification that addresses the other intangible assets is 350-30. To continue‚ according to codification 350-20-20 goodwill is‚ “an asset representing the future economic benefits arising from other assets acquired in a business combination or an acquisition by a not-for-profit entity that are not individually identified and separately recognized”. In addition‚ according to codification 350-20-35-1‚ “Goodwill shall not be amortized. Instead‚ goodwill shall be
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testing‚ goodwill associated with the Spanish operations impairs under GAAP as of 12/31/2010. The impairment loss is $200‚000. Under U.S.GAAP‚ goodwill impairment test is taken annually‚ or when there is impairment indicator. B. After the impairment testing‚ goodwill associated with the Spanish operations impairs under IFRSs as of 12/31/2012. The impairment loss is $400‚000. The new carrying value of the assets is $3.1 million. The new carrying value of the CGU is $1.8 million. Goodwill acquired
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accounting treatment of goodwill impairment/ detailed two-step impairment test – apart from qualitative assessment (1) if CV of reporting unit is > than FV of reporting unit‚ take step 2; if opposite‚ stop. (2) compare CV of goodwill w/ FV of goodwill; if CV is > FV‚ there might be potential impairment. CH4 -Determine the fair value of sub/the fair value of NCI – FV allocation; FV of sub = FV of CI + FV of NCI; go by mkt price if there is; use parent if there isnt -Determine goodwill using fair value
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