ACCG224 Lecture Notes - Lecture 6: Impaired Asset, Wu Xing, Weighted Arithmetic Mean
19 Jun 2018
School
Department
Course
Professor
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ACCG224 – Semester 1, 2014
Week 6
Accounting for Impairment
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2 2 2
Readings (BEFORE the lecture!)
ACCG224 textbook:
Leo (9e): Chpt. 11
Additional resources (available on iLearn):
AASB 136
Please note:
The lectures will not strictly follow these slides. It is expected and required
that you know the contents of the readings BEFORE the lecture. Consider
these slides as a summary and guideline for the lectures (and later for your
revision) where we will have more examples and discussions around the
topics.
Also, this week’s slides have blanks within certain examples. It is a good
exercise to try to fill the blanks BEFORE the lecture and compare your
attempts with the solutions discussed in the lecture.
find more resources at oneclass.com
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3 3 3
Learning objectives
1. Understand the purpose of the impairment test for assets;
2. understand when to undertake an impairment test;
3. explain how to undertake an impairment test for an individual
asset;
4. identify a cash-generating unit, and account for an impairment
loss for a cash-generating unit – not including goodwill;
5. account for the impairment of goodwill;
6. account for reversals of impairment losses;
7. apply the disclosure requirements of AASB 136.
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
The lectures will not strictly follow these slides. It is expected and required that you know the contents of the readings before the lecture. Consider these slides as a summary and guideline for the lectures (and later for your revision) where we will have more examples and discussions around the topics. Also, this week"s slides have blanks within certain examples. It is a good exercise to try to fill the blanks before the lecture and compare your attempts with the solutions discussed in the lecture. Learning objectives: understand the purpose of the impairment test for assets, understand when to undertake an impairment test, explain how to undertake an impairment test for an individual asset; 4. identify a cash-generating unit, and account for an impairment loss for a cash-generating unit not including goodwill: account for the impairment of goodwill, account for reversals of impairment losses, apply the disclosure requirements of aasb 136.
