资产减值 ex1 Entity R： 21天学通国际会计

IMPAIRMENT OF ASSETS

FRS 11 Impairment offixed assets and goodwill was published in July 1998. It deals with an important aspect of accounting for fixed assets for which there had previously been no guidance.

Required

1. According to FRS 11, when is an asset impaired and how is that impairment calculated?                                 (4 marks)
2. FRS 11 recognises that it will not always be easy to tell when a fixed asset might be impaired. Briefly list the indicators of impairment noted in the standard. (4 marks)
3. Entity R has a single substantial asset, the ST, which it uses to manufacture UVs. The carrying value of the ST after 4 years (in 1999) is £5m (cost E7m, accumulated depreciation on a straight line basis of £2m). There is no expected residual value. Due to a breakthrough in technology in the manufaccur' e of UVs, Entity R now expect the machine to produce 30% less 'in revenue terms than expected over the rest of its estimated useful life of 10 years. Net future cash flows for the next 5 years, based on management's best estimate after taking the 30% cut into account are (E'000):

Year                                               1                                                       2                                                       3                                                       4                                                       5

Future cash flows                        600                                                    660                                                    710                                                    755                                                    790

The expected growth rates for the following years are:

Year                                                       6                                                       7                                                       8                                                       9                                                       10

Rate of growth                                     7%                                                       (1)%                                                       (7)%                                                       (16)%                                                       (30)%

If the machine was sold now it would realise £3.2m, net of selling costs.

Calculate the recoverable amount of the ST and hence any impairment loss.

(10 marks)

1. FRS 11 introduced the term 'income generating unit'.

1. Define 'income generating unit'. (2 marks)
2. Identify the income generating unit in the following cases.

1. A manufacturer can produce a product at a number of different sites. Not all the sites are used to full capacity and the manufacturer can choose how much to make at each sire. However, there is not enough surplus capacity to enable any one site to be closed. The cash inflows generated by any one site therefore depend on the allocation of production across all sites.
2. A restaurant chain has a large number of restaurants across the country. The cash inflow of each restaurant can be individually monitored and

sensible allocations of cost to each restaurant can be made.                (5 marks) (25 marks) Note. PV factors at 10% are as follows. Year                                                                                                 PL factor 01 0%
1	0.90909
2	0.82645
3	0.75131
4	0.68301
5	0.62092
6	0.56447
7	0.51316
8	0.,46651
9	0.42410

Carrying Value			vs		Recoverable Amount
£5m
					Higher	of
					Value in Use (W1)	NRV
					£4.272m	£3.2m
Impairment loss = 5m - 4.272m				=	0.728m
DR	P and L Account		0.728m
CR	Plant and machinery			0.728m
W1
Year	Cashflow	10% DF	PV
1	600	0.90909	545
2	660	0.82645	545
3	710	0.75131	533
4	755	0.68301	516
5	790	0.62092	491
6	806	0.56447	455
7	798	0.51316	409
8	742	0.46651	346
9	623	0.4241	264
10	436	0.38554	168
		NPV =	4272

 

问题1：从哪里得知Carrying Value是5m，为什么是这样

题目的部分(c)提供了关于Carrying Value的信息：

"Entity R has a single substantial asset, the ST, which it uses to manufacture UVs. The carrying value of the ST after 4 years (in 1999) is £5m (cost £7m, accumulated depreciation on a straight line basis of £2m)."

根据这段描述，我们知道资产ST的账面价值是通过以下计算得出的：

• 初始成本（Cost）是£7m。
• 四年的累计折旧（Accumulated Depreciation），按直线法计算，总计£2m。

账面价值（Carrying Value）是资产的成本减去其累计折旧。所以，这个资产的账面价值计算如下：

Carrying Value = Cost - Accumulated Depreciation Carrying Value = £7m - £2m Carrying Value = £5m

这就是资产ST在四年后的账面价值为£5m的原因。在进行资产减值测试时，这个£5m的账面价值会与可收回金额（Recoverable Amount）进行比较，以确定是否存在减值损失，并计算减值损失的金额。