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Despite the subsidiary has net assets prior to this reporting date, however as management estimated the subsidiary to make losses continuously, as such the impairment was not reversed. During this year, as board has decided to liquidate the subsidiary, the recent financial information shows that the...

I have a question. I have an investment in a subsidiary amounted to cost $1m, fully impaired couple years ago, hence carrying amount is nil at year end. During the year, the board has decided to wound up the subsidiary voluntarily. As such, as at year end, based on the available financial informatio...

Hi All Just hoping to clarify something regarding interest free + repayable on demand loans from holding company. The loans was at repayable on demand upon inception, the fair value at inception is therefore the face value and no discounting is required when the debt is recognized. At year end, the ...

Hi All In assessing the recoverable amount of rou asset + fixed asset, a cashflow forecast of 5 yrs + terminal is prepared. The ROU asset has a remaining of 1 yr life as at year end and constitute 80% of the total assets. Currently, an extension of lease assets is expected. However this extension of...

Thanks all. Will find out more.

Hi All, I am assessing an impairment of goodwill. Understand that goodwill is tested for impairment as part of CGU. I have a couple of questions: a) This goodwill arose from acquisition of a list customers that generate steam A revenue in the past. However, other than corporate/shares assets, such a...

Thanks !

Hi All I have an existing loan from parent due 31 Dec 2021 (from 1 Jan 2015 to 31 Dec 2021) with interest 5% per annum. During the year, the maturity date of the loan was extended to 31 Dec 2022, with all other term remain unchanged. Will like to know if this constitute a debt modification and requi...

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Hello, yes, I am lessor when come to head lease but at the same time I am also acting as intermediate lessor. In this case, should i account the sub lease as finance lease given that the right of use of the asset from my head lease has the same term?

Hi All I have a question in determining whether the sublease is to be treated as finance or operating lease. My company owned a property (a commercial office, say office A), the property is classified as investment property in my balance sheet as I earn rental income from my tenant. At the same time...