Maurice Tutor

(5)

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About Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 20 Feb 2018 My Price 7.00

WebHelper Inc.

IFRS; impairment; goodwill

Refer to the situation described in BE 11–13. Assume that SCC’s fair value of $40 million approximates fair value less costs to sell and that the present value of SCC’s estimated future cash flows is $41 million. If WebHelper prepares its financial statements according to IFRS and SCC is considered a cash-generating unit, what amount of impairment loss, if any, should WebHelper recognize?

BE 11–13

Impairment; goodwill

WebHelper Inc. acquired 100% of the outstanding stock of Silicon Chips Corporation (SCC) for $45 million, of which $15 million was allocated to goodwill. At the end of the current fiscal year, an impairment test revealed the following: fair value of SCC, $40 million; fair value of SCC’s net assets (excluding goodwill), $31 million; book value of SCC’s net assets (including goodwill), $42 million. What amount of impairment loss should WebHelper recognize?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Feb 2018 11:02 PM My Price 7.00

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