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5Impairment of assets

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1. Impairment of assetsImpairment is determined by comparing the carrying amount of the asset with its recoverable amount. This is the higher of its fair value less costs to sell and its value in use.The main accounting issues to consider are therefore as follows (a) H ow is it possible to identify when an impairment loss may haveoccurred?(b) H ow should the recoverable amount of the asset be measured?(c) How should an “impairment loss” be reported in the accounts?1.1Identifying a potentially impaired assetAn entity should assess at the end of each reporting period whether there are any indications of impairment to any assets. The concept of materiality applies, and only material impairment needs to be identified.If there are indications of possible impairment, the entity is required to make a formal estimate of the recoverable amount of the assets concerned.(a) E xternal sources of information(ⅰ) A fall in the asset’s market value that is more significant than would normally be expected from passage of time over normal use (ⅱ)A significant change in the technological, market ,legal or economic environment of business in which the assets areemployed.(ⅲ)An increase in market interest rates or market rates of return on investments likely to affect the discount rate used in calculating value in use.(ⅳ)The carrying amount of the entity’s net assets being more than its market capitalization.(b) I nternal sources of information: evidence of obsolescence orphysical damage, adverse changes in the use to which the asset is put, or the asset’s economic performanceEven if there are no indications of impairment, the following assets must always be tested for impairment annually.(a) An intangible asset with an indefinite useful life(b) Goodwill acquired in a business combination1.2Measuring the recoverable amount of the assetThe recoverable amount of an asset should be measured as the higher value of:(a) the asset’s fair value less costs to sell; and(b) its value in useThe value in use of an asset is measured as the present value of estimated future cash flows (inflows minus outflows) generated by the asset, including its estimated net disposal value (if any) at the end of its expected useful life.1.3Recognition and measurement of an impairment lossIf the recoverable amount of an asset is lower than the carrying amount, the carrying amount should be reduced by the difference (ie the impairment loss) which should be charged as an expense in profit or loss.2. Cash generating unitsWhen it is not possible to calculate the recoverable amount of a single asset, then that of its cash generating unit should be measured instead.A cash-generating unit is the smallest identifiable group of assets for which independent cash flows can be identified and measured.3. Goodwill and the impairment of assetsAllocating goodwill to cash-generating unitsGoodwill acquired in a business combination does not generate cash flows independent of other assets. It must be allocated to each of the acquired’s cash-generating units( or groups of cash-generating units) that are expected to benefit from the synergies of the combination.allocation of impairment loss(a) First, to any assets that are obviously damaged or destroyed(b) Next, to the goodwill allocated to the cash generating unit (C) Then to all other assets in the cash-generating unit, on a prorata basisExample: A cash-generating unit comprises the following:$mBuilding 30Plant and equipment 6Goodwill 1066Following a recession, an impairment review has estimated the recoverable amount of the cash-generating unit to be $50m.How do we allocate the impairment loss?Carrying amount Impairment loss Carrying amountpost-impairment$m $m $m Building 30 (5) 25Plant and equipment 6 (1) 5 Goodwill 10 (10) ---66 (16) 50Example2: impairment lossA company has acquired another business for $4.5: tangible assets are valued at $4.0m and goodwill at $0.5m.An asset with a carrying value of $1m is destroyed in a terrorist attack. The asset was not insured. The loss of the asset, without insurance, has prompted the company to assess whether there has been an impairment of assets in the acquired business and what the amount of any such loss is.The recoverable amount of the business( a single cash generating unit) is measured as $3.1m.SolutionThere has been an impairment loss of $1.4m ($4.5-$3.1).The impairment loss will be recognized in profit or loss. The loss will be allocated between the assets in the cash generating unit as follows.(a) A loss of $1 can be attributed directly to the uninsured asset thathas been destroyed.(b) The remaining loss of $0.4m should be allocated to goodwill The carrying value of the assets will now be $3m for tangible assets and $0.1m for goodwill.Reversal of an impairment loss(a) The reversal of the impairment loss should be recognizedimmediately as income in profit or loss.(b) The carrying amount of the asset should be increased to itsnew recoverable amountAn exception to this rule is for goodwill. An impairment loss for goodwill should not be reversed in a subsequent period.QuestionA cash generating unit comprising a factory, plant and equipment etc and associated purchased goodwill becomes impaired because the product it makes is overtaken by a technologically more advanced model produced by a competitor. The recoverable amount of the cash generating unit falls to $60,resulting in an impairment loss of $80m,allocated as follows.Carrying amounts carrying amountsBefore impairment after impairment$m $mGoodwill 40 ---Patent (with no market value) 20 ---Tangible non-current assets 80 60Total 140 60After three years, the entity makes a technological breakthrough of its own, and the recoverable amount of the cash generating unit increases to $90m.The carrying amount of the tangible non-currentassets had the impairment not occurred would have been $70m. RequiredCalculate the reversal of the impairment lossAnswerThe reversal of the impairment loss is recognized to the extent that it increases the carrying amount of the tangible non-current assets to what it would have been had the impairment not taken place, ie a reversal of the impairment loss of $10m is recognized and the tangible non-current assets written back to $70m.Reversal of the impairment is not recognized in relation to the goodwill and patent because the effect of the external event that caused the original impairment has not reversed-the original product is still overtaken by a more advanced model.。

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资产减值综合分析

资产减值综合分析

例题
举例
• 甲企业的一项固定资产的剩余使用寿命为3年，企 业预计未来3年内，该资产每年可为企业产生的净 现金流量分别为：第1年100万元，第2年50万元， 第3年10万元。
• 假设利用该固定资产生产的产品受市场行情的波动 的影响，企业预计未来3年每年的现金流量如下表 所示：
产品行情好
产品行情一般
产品行情差
二、资产可收回金额的计量
预计资产未来现金流量的方法
传统法：根据未来每期最有可能发生的现金流量 进行预测；它使用单一的未来每期预计现金流量和 单一的折现率计算资产未来现金流量的现值。
期望现金流量法：如果资产未来现金流量的发生 时间不确定，企业应当根据资产在每一种可能情况下 的现值及其发生概率直接加权计算资产未来现金流量 的现值。
二、资产可收回金额的计量
（二）公允价值减去处置费用后的净额的估计
资产的公允价值是指在公平交易中，熟悉情况的交 易双方自愿进行资产交换的金额； 处置费用是指可以直接归属于资产处置的增量成本 ，包括与资产处置有关的法律费用、相关税费、搬运 费以及为使资产达到可销售状态所发生的直接费用等 ，但是财务费用和所得税费用等不包括在内。
•
5、You have to believe in yourself. That's the secret of success. ----Charles Chaplin人必须相信自己，这是成功的秘诀。-Wednesday, May 26, 2021May 21Wednesday, May 26, 20215/26/2021
➢确定折现率时，应当首先以该资产的市场利率为 依据。如果利率无法获得的，可以使用替代利率估
计。
➢通常应当使用单一的折现率。
二、资产可收回金额的计量
企业会计准则08 号--资产减值(中英文对照)

企业会计准则08 号--资产减值(中英文对照)

企业会计准则第8 号—-资产减值Accounting Standard for Business Enterprises No. 8 - Impairment of Assets第一章总则Chapter I General Provisions第一条为了规范资产减值的确认、计量和相关信息的披露，根据《企业会计准则——基本准则》，制定本准则。

Article 1 To standardize the confirmation and measurement of the impairment of assets，and the disclosure of relevant information, these Standards are formulated according to the Accounting Standard for Business Enterprises – Basic Standards。

第二条资产减值，是指资产的可收回金额低于其账面价值。

Article 2 The term ”impairment of assets” refers to that the recoverable amount of assets is lower than its carrying value.本准则中的资产，除了特别规定外,包括单项资产和资产组。

The assets as mentioned in these standards shall include single item assets and group assets.资产组，是指企业可以认定的最小资产组合，其产生的现金流入应当基本上独立于其他资产或者资产组产生的现金流入。

The term "group assets " refers to a minimum combination of assets that may be recognized by an enterprise，by which the flow-in cash generated shall be generally independent of those by other assets or group assets。

Part_4_Chapter_3_Impairment_of_assets_(IAS_36)

Part_4_Chapter_3_Impairment_of_assets_(IAS_36)


• Irrespective of whether there is any indication for impairment an asset shall test yearly
– Intangible assets with an indefinite useful life – Intangible assets that are not yet available for use – Goodwill acquired in a business combination
– Carrying amount : amount at which an asset is recognized after deducting any accumulated depreciation (amortization) and accumulated impairment losses thereon – Recoverable amount: higher of fair value less costs to sell and value in use
Advanced accounting and international financial statements - Part 4 Ch 4 Pag.
6
Identifying impaired assets
External indicators Internal indicators
o Market value declines more o Obsolescence or physical than expected damage o Adverse changes entity’s o Adverse changes to the entity environment o Worse than expected economic o Interest rates or rates of return performance of an asset on investments have increased o Carrying amount of net assets exceeds market capitalization
FINANCIAL REPORT--NOTES GLOSSARY 财务报告批注中的名词汇总翻译

FINANCIAL REPORT--NOTES GLOSSARY 财务报告批注中的名词汇总翻译

Relief from royalty method: assumes that if a business did not own the identifiablebrandname under consideration it would have to pay a royalty to the owners of the brandname for its use. The calculation is prepared on a discounted cash flow analysis of the future royalty stream which is based on financial budgets covering a one year period.Royalty：特许权使用费交纳的税金借：其他应收款-代扣代交税款贷：银行存款支付的技术使用费（需扣下代交的税款）借：预付帐款贷：银行存款收到技术使用费发票后借：管理费用贷：预付帐款其他应收款-代扣代交税款Written-off：核销/已报废的/注销Provision：计提Provision for Inventory impairment存货跌价准备；备货贬价筹办provision for asset impairment资产减值准备Provision for impairment of inventories存货跌价准备provision for fixed asset impairment固定资产减值准备；固定资产减值筹办provision for fixed property impairment固定资产减值准备impairment of：使用寿命有限的无形资产的减损Impairment Loss of Assets资产减值损失Impairment Provision of Bad Debts坏账准备impairment of value价值减损impairment of the kidney伤肾impairment of visual acuity视力减退percent impairment of hearing听觉损害率impairment of hearing听力损伤Impairment of Asset所谓资产减值；财产减值准备impairment of benefit利益损害3. Operating profit营业费用(a) ExpensesMaterials and consumables used：消耗原材料Employee costs：应付职工薪酬Rental expenses relating to operating leases：租金Amortisation of other intangibles：其他无形资产摊销Depreciation/other amortisation：折旧/其他摊销Impairment of goodwill：商誉减损Advertising and promotional：广告费Repairs and maintenance：修理费Cartage and freight：运输费Restructure costs ：调整费用Time value in option hedging contracts：时间价值（期权/对冲合约）Other expensesTotal expenses(b) Profit before income tax expense includes the following net expenses and gains:ExpensesDepreciation/amortisation:PropertyPlant and equipmentLeasehold improvements租赁资产Amortisation:Other intangiblesTotal depreciation and amortisationRental expenses relating to operating leases:Minimum lease payments 9,045 9,388Contingent rentals 167 200Total rental expenses relating to operating leasesOther charges (credits) against assets:Bad and doubtful debts – trade debtors：坏账/可疑负债Provision for stock obsolescenceTotal other charges (credits) against assets4. RevenueRevenue from operating activities:营业收入Sales revenue：销售收入Other revenue:Interest received/receivable：利息收入Royalties：特许权使用费Total revenue5. Other incomeNet gain on disposal of property, plant and equipment：固定资产清理Waste recoveries：废品销售Commissions：佣金/手续费Sundry：杂项6. Income tax(a) Income tax expenseCurrent taxDeferred tax(Over)/under provision in prior years7. DividendsOrdinaryDividends not recognised at year endFranked dividends免税红利8. Auditors’ remuneration（During the year the following fees were paid or payable for services provided by the auditor of the parent entity）9. Key management personnelKey management personnel compensationShort-term employee benefitsPost-employment benefitsLong-term benefitsShare-based payments10. Current assets – cashCash on hand 库存现金Cash at bank and on deposit (at call)银行存款11. Current assets – receivablesTrade receivables应收账款Provision for impairment减值准备Other receivables/prepaymentsCredit risk（The credit risk relating to trade and other receivables of the Group which have been recognised on the balance sheet is the carrying amount, net of any provision for impairment）12. Current assets – inventoriesRaw materials原材料Work in progress未完工产品Finished goods完工产品Stock in transit在途物资Provision for inventory obsolescence计提存货损毁13. Derivative financial instrumentsCurrent assetsForward foreign exchange contracts – cash flow hedgesForeign currency options – cash flow hedgesCurrent liabilitiesInterest rate contracts – cash flow hedgesForward foreign exchange contracts – cash flow hedgesForeign currency options – cash flow hedgesNon-current liabilitiesInterest rate contracts – cash flow hedges14. Non-current assets – other financial assetsShares in associate15. Non-current assets – property, plant and equipment Freehold land and buildings:自有土地与建筑At cost：按成本记Accumulated depreciation：累计折旧Leasehold improvements:租赁并改良的At costAccumulated amortisationTotal propertyPlant and equipment:At costAccumulated depreciationTotal plant and equipmentTotal property, plant and equipment(a) Reconciliations调节（Reconciliations of the carrying amounts of each class of property, plant and equipment at the beginning and end of thefinancial year are set out below:）(b) Non-current assets pledged as security16. Non-current assets – intangibles非流动无形资产Goodwill：商誉Other intangibles：其他无形资产Accumulated amortisation：累计摊销Brandnames：品牌Estimated growth rates: 估计增长率Post-tax discount rate：税后折现率Pre-tax discount rate equivalent：税前折现率相当Provision for bad debts：计提坏账准备17. Non-current assets – deferred tax assetsThe balance comprises temporary differences attributable to: Amounts recognised in profit or lossTrade receivables impairment：Employee benefits：员工福利Depreciation/amortisation：折旧/摊销Inventory obsolescence：存货损失Claims and returns：Other provisions and accrualsDeferred gain：递延收益Licence fees：Amounts recognised directly in equityTransaction costs arising on share issues：股票交易成本的上升？Cash flow hedges：现金套期保值Total temporary differencesDeferred tax assets to be recovered within 12 months：一年内可回收的递延税资产Deferred tax assets to be recovered after more than 12 months：一年内不可回收的递延税资产18. Current liabilities – payables流动负债-应付账款Trade creditors：应付账款Other creditors：其他应付款19. Current liabilities – borrowings流动负债-借款Bank overdraft ：银行透支Bank loans：银行贷款Hire purchase：租赁Secured liabilities担保负债Bank overdraft：银行透支Hire purchase：租赁20. Current liabilities – provisions流动负债-计提Employee entitlements：员工福利（Amounts reflect employees’ entitlement to take accrued annual leave and long service leave during thenext 12 months.）Employee incentives：员工激励（Amounts reflect incentive payments to employees on the basis that certain criteria are fulfilled during the current financial year.）Restructure costs：重组成本（Estimate of unpaid costs at 30 June 2011 in relation to the restructuring of the Group’s Corporate Office.）Claims and returns：索赔和退货（Provision is made for the estimated product related claims and returns by customers of the Consumer Products Division.）Other：其他（Miscellaneous obligations for which there is a probability of an outflow of resources.）21. Non-current liabilities – borrowingsSecured liabilitiesBank loans：银行贷款Hire purchase liabilities：分期付款（的负债）Total secured non-current liabilitiesAssets pledged as security作担保的资产First mortgageFreehold land and buildings：自有土地和建筑物Fixed charg：浮动Property, plant and equipment ：厂房和设备Intangibles：无形资产Other financial assets：其他金融资产Hire purchasePlant and equipment under hire purchase：租赁的厂房和设备Floating charg：浮动Deferred tax assets：递延税资产Total non-current assets pledged as securityThe following current assets are also pledged as security: Fixed charge：浮动Receivables：应收账款/票据Floating chargeCash现金Inventories存货Receivables应收账款/票据Derivative financial instruments：金融衍生品Total current assets pledged as securityTotal assets pledged as securit22. Non-current liabilities – provisionsEmployee entitlements员工福利23. Non-current liabilities – deferred tax liabilitiesThe balance comprises temporary differences attributable to: Amounts recognised in profit or lossPrepayments：预付账款Inventories：存货Brandnames：品牌Depreciation：折旧Unrealized foreign exchange gains:为实现的外汇收益Interest：利息Deferred tax liabilities to be settled within 12 monthsDeferred tax liabilities to be settled after more than 12 monthOpening balance期初结余Closing balance期末结余24. Share capitalIssued and paid up capital:Ordinary shares – fully paid/ not full paid(Ordinary shares：普通股entitle the holder to participate in dividends of theCompany in proportion to the number of andamounts paid on the shares held. On a show of hands, every holder of ordinary shares present at a meeting in personor by proxy, is entitled to one vote, and upon a polleach share is entitled to one vote.)Dividend Reinvestment Plan：股利再投资计划Options：期权（Information relating to the ****’s Limited Employee Share/Option Purchase Plan, including details of optionsissued and exercised during the financial year and options outstanding at the end of the financial yearare set out in the Directors’ Report.）25. Reserves and retained profits(a)ReservesHedging reserve – cash flow hedges：避险储备Share-based payments reserve：股份支付储备Foreign currency translation reserve：汇兑储备(b) Retained profitsBalance DD/MMProfit after tax ：税后利润Dividends paid ：股利支付Transfer from reserves：储备的转移Reserves and retained profits (continued)(c) Nature and purpose of reserves(i) Hedging reserve – cash flow hedgesThe hedging reserve is used to record gains or losses on a hedginginstrument in a cash flow hedge that are recognised in other comprehensive income as described in Note 1(o). Amounts arerecognised in profit and loss when the associated hedged transaction affects profit and loss.(ii) Share-based payments reserveThe share-based payments reserve is used to recognise the fair value of options issued at grant date but not exercised.(iii) Foreign currency translation reserveExchange differences arising on translation of foreign controlled entitiesare taken to the foreign currency translation reserve. The reserve is recognised in profit and loss when the net investment is disposed of.26 Contractual commitments for expenditure(a)Capital commitments(b)Lease commitmentsOperating lease(c)Hire purchase commitments27. Contingent liabilitiesThere are a number of claims pending against the Group including claims relating to product and general liability. The Directors consider these claims to be minor which will not materially affect the results of the Group.The obligations of a controlled entity under an operating lease agreement are partly secured by a bank guarantee. 28. Segment report分部报告Segment revenues(Segment revenues are allocated based on the location in which the revenue originated.)Segment assets（Segment assets are allocated based on where the asset is located. Non-current segment assets exclude deferred tax assets.）Inter-segment transfers（Segment revenues, expenses and results include transfers between segments. Such transfers are priced on an ‘arms-length’ basis and are eliminated on consolidation.）29. Earnings per shareBasic earnings per share基本每股赢利Diluted earnings per share摊薄每股盈利。