Non Current Assets Flashcards by Stephanie Clitheroe

Q

PPE - Definition

A

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Q

PPE - Recognition

A

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Q

Measurement after Recognition

A

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Q

Revaluations

A

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Q

Depreciation

A

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Q

Derecognition

A

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Q

Exchange of assets

A

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Q

Impairment losses

A

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Q

IAS 36 - Impairment doesn’t apply to

A

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Q

Internal and external clues of an impaired asset

A

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Q

Annual impairment tests must be done for

A

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Q

Assets must be carried at no more than

A

Their recoverable amount

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Q

Costs of disposal

A

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Q

Value in use

A

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Q

Cash flows should include

A

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Q

Cash flows should exclude

A

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Q

Cash Generating Units

A

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Q

Allocating Goodwill to CGU’s

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A

Q

Corporate Assets

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A

Q

Allocation of impairment losses with CGU

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A

Q

Reversal of past impairments

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A

Q

Goodwill Impairment Loss

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A

Q

The Fair Value Measurement Approach

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A

Q

A fair value measurement assumes that?

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A

Principal - One with the highest volume and level of activity.

If no principal, it’s the most advantageous of which you then take into account the transport costs (same as Principal) but then also transaction costs to ASSESS it only, for fair value you ignore the transaction costs again.

What are the three valuation techniques?

Valuation techniques should be applied consistently BUT

Fair Value Hierarchy

Active market

Intangible Asset

R&D - PIRATE

Revaluation model - Intangible Assets

Amortisation

Investment property

What is not classed as invetsment property

Recognition

Measurement at recognition

Measurement after recognition

Transfers to or from investment property

Accounting treatment

Government grants

Borrowing costs and capitalisation

Agriculture

Measurement