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so the recoverable amount is 4 ans the carrying amount is 5 , so 5-4 = 1 loss on impairment?IAS 36: Impairment of Assets
oIt applies to all assets except inventories.
oAn impairment loss of an asset is recognized when the carrying amount of an asset exceeds its recoverable amount.
oAn impairment loss is recognized in profit or loss account for assets carried at cost and treated as a revaluation decrease for assets carried at revalued amounts.
oRecoverable amount is the higher of an asset’s fair value less costs to sell and its value in use.
oValue in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life.
so the recoverable amount is 4 ans the carrying amount is 5 , so 5-4 = 1 loss on impairment?
Also in Q17 why did they take only retained earnings and general reserve?
http://www.xtremepapers.com/papers/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w10_qp_32.pdf
Q 11 anyone? cash and equivelants?
wajiman: what's cost of capital % ???
Cash equivalents include cash deposits with less than six months to maturity.
Hence = 1200+16000-8000+7000 = 16200
can anyone anyone solve specimen paper 1O , q10 , 17 and 30
yea...only less than 6Oh thanks. Not the deposit available at 6 month's notice?
Patanae yar im confused too :s I mean some say that preference shares are a part of equity, except the reedamable ones :/WaleedUQ, Saad Ghori & wajiman, abe yar equity/shareholder funds mai Pref Shares daalen ya nai?
see this post!
btw is that the old standard? Bcos according to IAS 7 we only include deposits available at 24hours notice as cash :S MnMz
pls provide the paper download link
yeah well that makes sense cuz we'll take redeemable as Liabilties, but these questions did not mention if they were redeemable or irredeemablePatanae yar im confused too :s I mean some say that preference shares are a part of equity, except the reedamable ones :/
Exactly, as WaleedUQ quoted theyre a 'sack of manure'yeah well that makes sense cuz we'll take redeemable as Liabilties, but these questions did not mention if they were redeemable or irredeemable
can anyone anyone solve specimen paper 1O , q10 , 17 and 30
Cash equivalents include investments that are short term (less than three months from date of acquisition), readily convertible to a known amount of cash and subjected to an insignificant risk of changes in value
Thats the new one
the old one is the 24 hrs thing...
can anyone anyone solve specimen paper 1O , q10 , 17 and 30
pls provide the paper download link
haha, 17 & 30 were among the ones we have already wasted so much time on here, you guys wanna do that again
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