Impairment loss

Becky V
Becky V Registered Posts: 374 Dedicated contributor 🦉
in AAT Level 4 (Level 8 in Scotland)
Hi all,

Please could you help me.
I am doing a question regarding impairment loss on goodwill.

The question is 'folllowing an impairment review of goodwill on 31 March 2010 there has been an impairment loss and the value of goodwill is now considered to be £650,00.

Is this the figure i put in on the statement of financial position?

Comments

  • sdv
    sdv Registered Posts: 585 Epic contributor 🐘
    Becky V wrote: »
    Hi all,

    Please could you help me.
    I am doing a question regarding impairment loss on goodwill.

    The question is 'folllowing an impairment review of goodwill on 31 March 2010 there has been an impairment loss and the value of goodwill is now considered to be £650,00.

    Is this the figure i put in on the statement of financial position?

    The impairment loss is the difference between the value of goodwill now (£650,000) and the value of goodwill on the last SOFP (or paid on acquisition).

    The impairment has to be written off in the Income Statement
  • Becky V
    Becky V Registered Posts: 374 Dedicated contributor 🦉
    Thank you for reply, thats what i thought.

Categories

Privacy Policy