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Category > Management Posted 28 Oct 2017 My Price 8.00

Centerpoint’s fair value

IFRS; impairment; goodwill

Refer to the situation described in Exercise 11–27, requirement 1. Alliant prepares its financial statements according to IFRS, and Centerpoint is considered a cash-generating unit. Assume that Centerpoint’s fair value of $220 million approximates fair value less costs to sell and that the present value of Centerpoint’s estimated future cash flows is $225 million.

Required:

Determine the amount of goodwill impairment loss Alliant should recognize

Exercise 11–27

Impairment; goodwill

In 2014, Alliant Corporation acquired Centerpoint Inc. for $300 million, of which $50 million was allocated to goodwill. At the end of 2016, management has provided the following information for a required goodwill impairment test:

Required:

1. Determine the amount of the impairment loss.

2. Repeat requirement 1 assuming that the fair value of Centerpoint is $270 million.

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Maurice Tutor
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Status NEW Posted 28 Oct 2017 08:10 AM My Price 8.00

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