Intangibles_Valuation Flashcards
1
Q
gaap
A
finite life intangibles: cost - (amortization and impairment)
intangibles: (cost-impairment)
2
Q
ifrs
A
cost model or revaluation model
3
Q
cost model
A
intangibles are reported at cost adjusted for amortization for finite life intangibles and impairment
4
Q
revaluation model
A
mark it to market every reporting period
5
Q
revaluation loss
income statement
revaluation gain
oci
revaluation loss fv
A
above {
OCI
}orig cost{
I/S
}below
page 15
6
Q
impairment
A
impairment loss:
revaluation surplus equity is first reduced to 0
remaining further impairment loss and further impairment losses recorded in I/S
7
Q
OCI
A
Like car parking unrealized gains and losses parked there and once revealed are added to I/S
