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Topic: Impairment Loss under IFRS (

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usman1500
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Joined: 02 Apr 2011
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Posted: 02 Apr 2011 at 16:37 \| IP Logged

How do you account for goodwill if the impairment loss on goodwill exceeds the book value of goodwill?

Fair Value of Eagle = 1,050

Fair value of net assets (excluding goodwill) = 1,000

Book Value (including goodwill) = 1,400

Present Value of Eagle’s estimated cash flows = 1,050

The book value is 1,400 and recoverable amount is 1,050. We have a 350 impairment loss on goodwill while the book value of goodwill is 300

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