文本a2非流动资产

Tangibleitemsareheldbyanentityforuseintheproductionorsupplyofgoodsorservices,forrentaltoothers,orforadministrativepurposes;andareexpectedtobeusedduringmorethanoneProbablethatfutureeconomicbenefitswillflowtotheCostcanbemeasured3MeasurementatDirectlyattributableEmployeebenefitSiteInitialdelivery&handlingInstallation&assemblyProfessionalCostsofSiterestorationprovision(IASFinanceCapitalisedforqualifyingassets(IASCost=normallyFVofassetgivenIAS16Property,PlantandEquipmentrequiresanassettobemeasuredatcostonitsoriginalrecognitioninthefinancialstatements.EWuseditsownstaff,assistedbycontractorswhenrequired,toconstructanewwarehouseforitsownuse.IdentifywhetherthecostslistedbelowshouldbecapitalisedorClearanceofthesitepriortoworkProfessionalsurveyors'feesformanagingtheconstructionworkEW'sownstaffwagesfortimespentworkingontheAnallocationofEW'sadministrationcosts,basedonEWstafftimespentWhichTWOofthefollowingitemsshouldbecapitalisedwithintheinitialcarryingamountofanitemofplant?CostoftransportingtheplanttotheCostofinstallinganewpowersupplyrequiredtooperatetheCostofathree-yearmaintenanceCostofathree-weektrainingcourseforstafftooperatethe4MeasurementafterCostlessaccumulateddepreciation/impairmentRevaluedamountlesssubsequentaccumulateddepreciation/impairmentlosses4.14.1RevaluationSufficientSufficientregularitythatcarryingamountdoesnotmateriallyfromFVatendofreportingRevalueentireIfarevaluationincreasesthevalueofanasset,theincreaseispresentedasothercomprehensiveincome(anddisclosedasanitemthatwillnotberecycledtoprofitorlossinsubsequentperiods)andheldinarevaluationsurpluswithinothercomponentsofequityIfarevaluationdecreasesthevalueoftheasset,thedecreaseshouldberecognisedimmediatelyinprofitorloss,unlessthereisarevaluationreserverepresentingasurplusonthesameasset.(2018/09)IllustrationIllustration-P2On1May2012,Marchantpurchasedanitemofproperty,plantandequipmentfor$12millionandthisisbeingdepreciatedusingthestraightlinebasisover10yearswithazeroresidualvalue.At30April2013,theassetwasrevaluedto$13millionbutat30April2014,thevalueoftheassethadfallento$7million.Marchantusestherevaluationmodeltovalueitsnon-currentassets.RevaluedAllPPEwithafiniteusefullifemustbedepreciatednormallyhasunlimitedlife–notdepreciatedDepreciationshouldbechargedoneachsignificantpartofanitemofPPEseparately.Partswhichhavethesameusefullifecanbegroupedtogether.Depreciationbeginswhentheassetisavailableforuseandcontinuesuntiltheassetisderecognised,evenifitisidle.Thedepreciationmethod,residualvalueandtheusefullifeofanassetshouldbereviewedannuallyandrevisedifnecessary.AnyadjustmentsareaccountedforasachangeinaccountingIllustrationIllustration-P2(e)Rosepurchasedplantfor$20millionon1May20X4withanestimatedusefullifeofsixyears.Itsestimatedresidualvalueatthatdatewas$1.4million.At1May20X7,theestimatedresidualvaluechangedto$2.6million.4.3RepairsandThecostsofservicingandrepairingPPEcannotbecapitalised.ThesecostsareexpensedtothestatementofprofitorlossSomepartsofanassetmayrequireregularreplacement(e.g.theseatsinanaircraft.ThereplacementpartsshouldbeSomeassets,suchasaircrafts,canonlybeoperatedifregularinspectionsforfaultsarecarriedout.Thecostoftheseinspectionscanbecapitalised.(2018/12)ExEx-2018/12Q3b)At30November20X6,thedirectorsofFillestimatethatapieceofminingequipmentneedstobereconditionedeverytwoyears.Theyestimatethatthesecostswillamountto$2millionforpartsand$1millionforthelabourcostoftheirownemployees.Thedirectorsareproposingtocreateaprovisionforthenextreconditioningwhichisdueintwoyears’timein20X8,alongwithessentialmaintenancecosts.ThereisnolegalobligationtomaintaintheminingThedirectorsofFillrequireadviceonhowtotreatthereconditioningcosts(4marks)IAS16Property,PlantandEquipmentrequiresanentitytorecogniseinthecarryingamountofPPE,thecostofreplacingpartofsuchanitem.Wheneachmajorinspectionisperformed,itscostisrecognisedinthecarryingamountoftheitemofPPEasareplacementiftherecognitioncriteriaaresatisfied.Thecostsofperformingamajorreconditioningarecapitalisedifitgivesaccesstofutureeconomicbenefits.Suchcostswillincludethelabourandmaterialscosts($3million)ofperformingthereconditioning.Thecostofthereconditioningshouldbeidentifiedasaseparatecomponentofthemineassetatinitialrecognitionanddepreciatedoveraperiodoftwoyears.However,costswhichdonotrelatetothereplacementofcomponentsortheinstallationofnewassets,suchasroutinemaintenancecosts,shouldbeexpensedasincurred.Itisnotacceptabletoaccruethecostsofreconditioningequipmentasthereisnolegalorconstructiveobligationtoundertakethereconditioning.IAS16saysthatanassetshouldbederecognisedwhendisposaloccurs,orifnofurthereconomicbenefitsareexpectedfromtheasset'suseordisposalThegainorlossonderecognitionofanassetisthedifferencebetweenthenetdisposalproceeds,ifany,andthecarryingamountoftheitemIncreasesineconomicbenefitsduringtheaccountingperiodintheformofinflowsorenhancementsofassetsordecreasesofliabilitiesthatresultinincreasesinequity,otherthanthoserelatingtocontributionsfromequityparticipants.Decreasesineconomicbenefitsduringtheaccountingperiodintheformofoutflowsordepletionsofassetsorincreasesofliabilitiesthatresultindecreasesinequity,otherthanthoserelatingtodistributionstoequityparticipants.ExExJocatthadexchangedsurpluslandwithacarryingvalueof$10millionforcashof$15millionandplantvaluedat$4million.Thetransactionhascommercialsubstance.Bothrevenueandgainsareincludedinthedefinitionofincome.Revenuearisesinthecourseofordinaryactivitiesofanentity.Gains.Increasesineconomicbenefits.Assuchtheyarenodifferentinnaturefromrevenue.收入与日常活动有关，利得与收入是经济利益总流入，利得ExExDiscusswhethertheproceedsofthesaleofthedevelopmentprojectaboveshouldbetreatedasrevenueinthefinancialstatementsfortheyearended31August20X8.(4marks)GainsarisingfromderecognitionofanintangibleassetcannotbepresentedasrevenueasIAS38explicitlyforbidsit.ThereisnoindicationthatSkizer’sbusinessmodelistoselldevelopmentprojectsbut,rather,itundertakesthedevelopmentofnewproductsinconjunctionwiththirdpartyentities.Skizer’sbusinessmodelistojointlydevelopaproduct,thenleavetheproductiontopartners.AsSkizerhasrecognisedanintangibleassetinaccordancewithIAS38,andfullyimpairedtheasset,itcannotarguethatithasthereafterbeenheldforsaleintheordinarycourseofbusiness.Therefore,accordingtoIAS38,thegainfromthederecognitionoftheintangibleassetcannotbeclassifiedasrevenueunderIFRS15RevenuefromContractswithCustomersbutasaprofitonthesaleoftheintangibleasset.P/LP/LandXYZGROUP–STATEMENTOFPROFITORLOSSANDOTHERCOMPREHENSIVEINCOMEFORTHEYEARENDED31DECEMBER20X2 XXCostXXCostofGrossXXOtherXXOtherFinanceXXIncometaxXXXGains/(losses)onInvestmentsinequityXIncometaxrelatingtoitemsofothercomprehensiveOthercomprehensiveincomefortheyear,netofXXXXIAS1requiresthatOCIisclassifiedintotwogroupsasitemsthatmightbereclassifiedtoprofitorlossinsubsequentaccountingforeignexchangegainsandlossesarisingontranslationofaforeignoperation(IASeffectivepartsofcashflowhedgingarrangements(IFRSRemeasurementofinvestmentsindebtinstrumentsthatareclassifiedasfairvaluethroughOCI(IFRS9)itemsthatwillnotbereclassifiedtoprofitorlossinsubsequentaccountingchangesinrevaluationsurplus(IAS16&IASremeasurementcomponentsondefinedbenefitplans(IASremeasurementofinvestmentsinequityinstrumentsthatareclassifiedasfairvalueOCI(IFRS–

OthercomponentofequityRetainedearningsIAS40InvestmentPropertyrelatesto'property(landorbuildings)held(bytheownerorbythelesseeasaright-of-useasset)toearnrentalsorforcapitalappreciationorboth(IAS40,para5)ExamplesofinvestmentpropertylandheldforcapitallandheldforundecidedfuturebuildingsleasedoutunderanoperatingvacantbuildingsheldtobeleasedoutunderanThefollowingarenotinvestmentpropertyheldforuseintheproductionorsupplyofgoodsorservicesorforadministrativepurposes(IAS16)owner-occupiedproperty(IAS16propertyheldforsaleintheordinarycourseofbusinessorintheprocessofconstructionofdevelopmentforsuchsale(IAS2Inventoriesapplies)propertybeingconstructedordevelopedonbehalfofthirdparties(IFRS15RevenuefromContractswithCustomersPropertyleasedtoanotherentityunderafinancelease(IFRSLeasesapplies)IllustrationIllustration-P2Y/E30NovemberGrangeacquiredaplotoflandon1December20X8inanareawherethelandisexpectedtorisesignificantlyinvalueifplansforregenerationgoaheadinthearea.Thelandiscurrentlyheldatcostof$6millioninproperty,plantandequipmentuntilGrangedecideswhatshouldbedonewiththeland.Themarketvalueofthelandat30November20X9was$8millionbutasat15December20X9,thishadreducedto$7millionastherewassomeuncertaintysurroundingtheviabilityoftheregenerationplan.Investmentpropertyisrecognisedwhenitisprobablethatfutureeconomicbenefitswillflowtotheentityandthecostcanbemeasuredreliably.MeasurementatCost,includingdirectlyattributableexpenditureandtransactionCostMeasurementafterCostFairvalueIfthecostmodelischosen,investmentFairvalueUnderthefairvaluemodel,theentityremeasuresitsinvestmentpropertiestofairvalueeachyear.Nodepreciationischarged.Allgainsandlossesonrevaluationarereportedinthestatementofprofitorloss. Transferfrominvestmentpropertytoowner-occupiedpropertyTransferstoorfrominvestmentpropertycanonlybemadeifthereisachangeofuse.Thereareseveralpossiblesituationsinwhichthismightoccurand Transferfrominvestmentpropertytoowner-occupiedpropertyUsethefairvalueatthedateofthechangeforsubsequentaccountingunderIAS16. Usethefairvalueat Usethefairvalueatthedateofthechange Transferfromowner-occupiedpropertytoinvestmentpropertytobecarriedatfairvalueNormalaccountingunderIAS16(costlessdepreciation)willhavebeenapplieduptothedateofthechange.Onadoptingfairvalue,thereisnormallyanincrease Transferfromowner-occupiedpropertytoinvestmentpropertytobecarriedatfairvalue TransferfrominventoriestoinvestmentpropertytobecarriedatfairvalueAnychangeinthe TransferfrominventoriestoinvestmentpropertytobecarriedatfairvalueExEx-AAA2019/12Q2LifesonCoownsabuildingwhichithasusedasawarehousetostoreinventory.On1April20X4thebuilding,whichhadnotsufferedanyhistoricimpairments,hadacarryingamountbasedondepreciatedhistoriccostof$323,000andafairvalueof$348,000.Onthisdate,LifesonCovacatedthebuildingandmovedtheinventorytonewlargerpremises.Managementdecidedtokeepthebuildinginordertorentitoutasastoragefacilitytolocalbusinessesandtobenefitfromanyincreasesinpropertyvaluations.On31March20X5,thebuildinghadnotbeenletandithadafairvalue,accordingtoanexternalvaluer,of$353,000.Thedraftfinancialstatementsforthecurrentyearrecognisethebuildingasaninvestmentpropertyatacarryingamountof$353,000andincludeafairvaluegainof$30,000inprofitbeforefortheyear.Sincereclassificationasaninvestmentproperty,depreciationhasnotbeenchargedinrelationtothebuilding.(6marks)ClassificationasinvestmentTheauditorshouldconsiderwhethertherequirementsofIAS40InvestmentPropertyhavebeensatisfiedandconfirmifthewarehouseheldbyLifesonCoisactuallyaninvestmentproperty.IAS40definesaninvestmentpropertyaslandand/orbuildingsheldtoearnrentalsorforcapitalappreciation,orboth.LifesonCo’swarehousehasbeenheldtoearnrentalsandforcapitalappreciationfrom1April20X4andthereforequalifiesasaninvestmentpropertyfromthisdate.Thefactthatthepropertyhasnotyetbeenletbythereportingdatedoesnotimpactonthisclassification.Theendofowner-occupationofthewarehouseisevidenceofthechangeinusetoaninvestmentproperty.Thewarehouseisrecognisedatfairvalueof$353,000andaccordingtoIAS40,thefairvaluemodelisacceptableprovidedthetreatmentofanyotherinvestmentpropertyheldbyLifesonCoisconsistent.Ontransferofanowner-occupiedpropertyrecognisedatdepreciatedhistoricalcost,whichhasnotbeenpreviouslyimpaired,toinvestmentpropertycarriedatfairvalue,IAS40requiresthatanyresultingincreaseinthecarryingamountshouldberecognisedinothercomprehensiveincomeasarevaluationsurpluswithinequity.Thereafter,anyfurtherincreaseinfairvalueisrecognisedinprofitorlossfortheyear.Inthiscase,LifesonCoshouldrecognisetheinitialincreaseof$25,000($348,000–$323,000)inothercomprehensiveincomeratherthaninitsprofitfortheyearandtheadditionalincreaseof$5,000($353,000–$348,000)whicharisesduringthecurrentyearshouldberecognisedinyear’sprofitorloss.LifesonCo’srecognitionofthefull$30,000gaininitsprofitbeforetaxforthecurrentyearisincorrectandthereforeresultsinanoverstatementofprofitby$25,000.IAS38IntangibleAnidentifiablenon-monetaryassetwithoutphysicalsubstance.Intangibleassetsinclude:goodwillacquiredinabusinesscomputercustomercustomerandsupplier22RecognitionAnentityshouldrecogniseanintangibleassetifallthefollowingcriteriaaremet:TheassetisTheassetiscontrolledbytheTheassetwillgeneratefutureeconomicbenefitsfortheThecostoftheassetcanbemeasuredAnintangibleassetisidentifiableItisseparable(capableofbeingseparatedandsold,transferredlicensed,rented,orexchanged,eitherindividuallyoraspartofapackage),orItarisesfromcontractualorotherlegalrights,regardlessofwhetherthoserightsaretransferableorseparablefromtheentityorfromotherrightsandobligations(IAS38,para12)MeasurementatWhenanintangibleassetisinitiallyrecognised,itismeasuredatcost.MeasurementafterCostCostlessaccumulatedamortisation/impairmentToFVonlyifactivemarket(IFRS13):'transactionsfortheassettakeplacewithsufficientfrequencyandvolumetoprovidepricinginformationonanongoingbasis'Noactive costRevaluewholeRevalueregularlysuchthatBVnotmateriallydiffto【2018/09】IAS38requiresanentitytochooseeitherthecostmodelortherevaluationmodelforeachclassofintangibleasset.Underthecostmodel,afterinitialrecognitionintangibleassetsshouldbecarriedatcostlessaccumulatedamortisationandimpairmentlosses.Undertherevaluationmodel,intangibleassetsmaybecarriedatarevaluedamount,basedonfairvalue,lessanysubsequentamortisationandimpairmentlossesonlyiffairvaluecanbedeterminedbyreferencetoanactivemarket.Suchactivemarketsarenotcommonforintangibleassets.Ifanintangibleassetisreportedusingthecostmodel,thereportedfiguresforintangibleassetssuchastrademarksmaybeunderstatedwhencomparedtotheirfairvalues【MJ：SBR的偏FiniteusefulAmortiseonsystematicbasisoverusefulBeginswhenavailableforResidualvaluenormallyassumed=ReviewusefullifeandmethodatleasteachfinancialIndefiniteIndefiniteusefulNOTReviewindefiniteusefullifeassessmenteachImpairmenttestsatleast6Researchanddevelopmenntwhenincurred

Capitaliseandamortiseiffollowingconditionsaremet:ProbablefutureeconomicIntentiontocompleteandResourcesadequatetocompleteandAbilitytoExpenditurecanbemeasured【2018/09】IAS38requiresallresearchcoststobeexpensedwithdevelopmentcostsbeingcapitalisedonlyafterthetechnicalandcommercialfeasibilityoftheassetforsaleorusehasbeenestablished.Ifanentitycannotdistinguishtheresearchphaseofaninternalprojecttocreateanintangibleassetfromthedevelopmentphase,theentitytreatstheexpenditureforthatprojectasifitwereincurredintheresearchphaseonly.2020/122020/12Q3AcquisitionofJengiCorbelCotradesintheperfumesector.Ithasrecentlyacquiredacompanyforitsbrand'Jengi'andpurchasedAcquisitionofJengiOn1January20X7,CorbelCoacquired100%ofJengiCo.Bothcompaniesoperateintheperfumesector.CorbelCointendstomergethemanufactureofJengiCo'sproductsintoitsownfacilitiesandcloseJengiCo'smanufacturingunit.JengiCo'sbrandnameiswellknowninthesector,retailingatpremiumprices,andtherefore,CorbelCowillcontinuetosellproductsundertheJengibrandnameafteritsregistrationhasbeentransferredanditsmanufacturingunitshavebeenintegrated.Describethemainchallengesinrecognisingandmeasuringintangibleassets,suchasbrands,inthestatementoffinancialposition.(5marks)(i)whethertheJengiCobrandnamewillbeaccountedseparatelyfromgoodwillonacquisition(2Therearemanychallengesinrecognisingandmeasuringintangibleassetssuchasbrandsinthestatementoffinancialposition.Manyintangibleassetsarenotfrequentlytradedonastand-alonebasisandthereforeveryoftenthereisnoactivemarketforthemwhichmakesarrivingatavaluationmoredifficult.Additionally,manyintangibleassetsareuniqueandthereforeitisnoteasytoidentifyandassesstheirvalue.Valuationmethodsareoftencomplexandsubjectiveandthemeasurementismoresubjectivewhentheintangibleassetsarenotbasedonlegallyenforceablerights.Finally,determiningtheusefullifeofintangibleassetscanbeGenerally,thereasonfortheomissionfromthefinancialstatementsofintangibleassetshasbeenduetoaperceivedlackofalinkbetweentheircostsandestimatingfuturerevenue.Inaddition,thedifficultiesinascertainingcostorvaluationfiguresforintangiblesandafocusonreliabilityoverrelevancewhendisclosingassetinformationhavemeantthatinternallygeneratedintangibleshavenotusuallybeenrecognised.However,theimportanceofintangiblesisreflectedintheincreasingproportionofacompany'smarketvaluebeingattributabletotheexistenceofintangibles.RecognitionofanassetisprohibitedunderaspecificstandardEntityFisinthebeveragebusiness.Itsbrandisknownthroughouttheworld.Thebrandcanbesoldandhasamarketvalue.Managementshouldnotrecognisethebrandasanasset,althoughitmeetsthedefinitionofone.Managementisprohibitedfromrecognisinginternallygeneratedbrands,mastheads,publishingtitles,customerlistsanditemssimilarinsubstance.TherecognitioncriteriaforintangibleassetsaremorenarrowlydefinedbyIAS38,limitingrecognitiontoassetsforwhichcostcanbemeasuredreliably,ratherthancostorvalue.Thecostcannotbedistinguishedfromthecostofdevelopingthebusinessasawhole.Suchitemsarenotrecognisedasintangibleassets,asthecostcannotbereliablyWheresimilarassetsareacquiredfromathirdparty,theconsiderationgiventothoseassetsisdistinguishablefromthegeneralcostsofdevelopingthebusinessasawholeandwould,therefore,berecognised,providedtheyalsomeetthecriteriaofcontrolandtheprobableflowoffutureeconomicbenefits.AnswerAnswerb)TheJengibrandwillgeneratefutureeconomicbenefitsbyincreasingsalesvolumesandbythepotentialofpremiumprices.Controloverthesepotentialfuturebenefitsisachievedbytheregistrationofthebrand.Theregistrationalsosatisfiestherequirementtoidentifytheintangibleassetseparatelyfromgoodwillandestimateitsfairvalue.2020/122020/12Q3AcquisitionofperfumeInadditiontonowowningtheJengiCobrand,CorbelCohasacquiredtwootherperfumebrandnamestopreventrivalcompaniesacquiringthem.Thefirstperfume(Locust)hasbeensoldsuccessfullyformanyyearsandhasanestablishedmarket.Thesecondisanewperfumewhichhasbeennamedafterafamousactor(Clara)whointendstopromotetheproduct.ThedirectorsofCorbelCobelievethatthetwoAcquisitionofperfumehowtoaccountforintangibleassetswithanindefinitelifewhethertheLocustandClaraperfumebrandnamescanregardedashavinganindefinitelife;(6Intangibleassetshaveanindefiniteusefullifewhenthereisnoforeseeablelimittotheperiodoverwhich,basedonananalysisofallrelevantfactors,theassetisexpectedtogeneratenetcashinflowsfortheentity(IAS38IntangibleAssets).Anintangibleassetwithanindefiniteusefullifeshouldnotbeamortised.IAS36ImpairmentofAssets,requiresanentitytotestanintangibleassetwithanindefiniteusefullifeforimpairmentbycomparingitsrecoverableamountwithitscarryingamount:(a)annually,and(b)wheneverthereisanindicationthattheintangibleassetmaybeimpaired.Theusefullifeofanintangibleassetthatisnotbeingamortisedshouldbereviewedeachperiodtodeterminewhethereventsandcircumstancescontinuetosupportanindefiniteusefullifeassessmentforthatasset.Iftheydonot,thechangeintheusefullifeassessmentfromindefinitetofiniteshouldbeaccountedforasachangeinanaccountingestimateinaccordancewithIAS8AccountPolicies,ChangesinEstimatesandErrors.CorbelCoshouldconsidervariousfactorstodeterminewhetherthebrandnamescanbeconsideredtohaveausefullife.ThesewillincludetheextenttowhichCorbelCoispreparedtosupportthebrandandtheextenttowhichthebrandhaslong-termpotentialandhashadprovensuccess.Perfumeisoftensubjecttomarketandfashiontrendsandtherefore,anassessmentofhowresistantthebrandsaretochangeshouldbemade.AlsoCorbelCohaspurchasedthebrandsasadefensivemeasuretopreventrivalcompaniesacquiringthem.Therefore,theremaybeadoubtastothesupportthatCorbelComaybepreparedtogivetothebrands.TheLocustperfumehasbeensoldsuccessfullyinthemarketformanyyearsandcouldbedeemedtohaveanindefinitelife.TheClaraperfumeislinkedtothepopularityoftheactorandtherefore,itisdifficulttoassesswhetherthebrandhasanindefinitelifeasitislikelytobedependentuponthelongevityofthepopularityoftheactor.InthecaseoftheClaraperfume,itisdifficulttostatethatthebrandwillhaveanindefiniteThusClaraislikelytohaveafinite2020/032020/03Q3bLeriaCohasitsownsubscription-basedtelevisionstation.Asaresult,ThedirectorsofLeriaCobelievethattheintellectualpropertyinthecontentrightsisconsumedascustomersviewthetelevisionprogrammes.Consequently,LeriaCocurrentlyamortisesthecontentrightsbaseduponestimatedfuturerevenuesfromthetelevisionprogramme.Forexample,ifatelevisionprogrammeisexpectedtogenerate$8millionofrevenueintotaland$4millionofthatrevenueisgeneratedinyear1,thentheintangibleassetwillbeamortisedby50%inyear1.However,theindustrypracticeistoamortisethecapitalisedcostoftheprogramme,lessitsrecoverableamount,overitsremainingusefullife.Discuss:whethertheamortisationoftheintangibleassetsrelatingtotelevisionprogrammecontentrightsbyLeriaCoandbytheindustryareacceptablepoliciesinaccordancewithIFRS (5marks)LeriaCo'saccountingpolicytobasetheamortisationoftheintangibleassetforcontentrightsonrevenuestemmingfromtherightsseemsreasonableandsystematic.However,IAS38IntangibleAssetssetsoutarebuttablepresumptionthatamortisationbasedonrevenuegeneratedbyanactivitywhichincludestheuseofanintangibleassetisnotappropriate.Thispresumptioncanbeovercomewhenitcanbedemonstratedthatrevenueandtheconsumptionoftheeconomicbenefitsoftheintangibleassetarehighlycorrelated.Theintellectualpropertyembodiedinthetelevisionprogrammeswillgeneratecashflowsthroughthetelevisionchannelsubscriptionsandtheestimatedrevenuesforatelevisionprogrammedeterminetheamounttobespentonproducingthetelevisionprogramme.Therefore,revenuereflectsaproxyforthepatternofofthebenefitsreceived.Revenueandconsumptionoftheeconomicbenefitsoftheintangibleassetseemhighlycorrelatedandthereforearevenue-basedamortisationmethodseemsappropriate.anapproachdoesnotcontradictIAS38’sprohibitiononrevenuebasedamortisationbecauseitisnotbasedondirectmatchingofrevenueandamortisation.TheusefullifeanapproachdoesnotcontradictIAS38’sprohibitiononrevenuebasedamortisationbecauseitisnotbasedondirectmatchingofrevenueandamortisation.TheusefullifeofanassetisrequiredtobereassessedaccordancewithIFRSStandardsatleastateachfinancialyearend.Wherethisresultsinachangeinestimate,thisiswillbeaccountedforprospectivelyfromthedateofreassessment.IAS38alsostatesthatifapatternofamortisationcannotbemeasuredreliably,thestraight-linemethodmustbeused.2020/032020/03Q3bPlayers'contractBackground:LeriaCoisaninternationallysuccessfulPlayers'contractPlayersregistrationcontractcostsareshownasintangibleassetsandareinitiallyrecognisedatthefairvalueoftheconsiderationpaidfortheiracquisition.However,subsequently,players'contractsareoftenre-negotiatedatacost.【MJ：后续计量】Also,players'contractsmaycontaincontingentperformanceconditionswhereindividualplayersmaybepaidabonusbasedontheirsuccessintermsofgoalsscoredorthesuccessofthefootballteamasawhole.Thesebonusesrepresentadditionalcontractcosts.Discuss:howtoaccountfortheplayers'contract(includingthecontingentperformance (5Whenaplayer’scontractissigned,managementshouldmakeassessmentofthelikelyoutcomeofperformanceContingentconsiderationwillberecognisedintheplayers’initialregistrationcostsifmanagementbelievestheperformanceconditionswillbemetinlinewiththecontractualterms.Periodicreassessmentsofthecontingentconsiderationshouldbemade.AnycontingentamountswhichthedirectorsofLeriaCobelievewillbepayableshouldbeincludedintheplayers’contractcostsfromthedatemanagementbelievesthattheperformanceconditionswillbemet.Anyadditionalamountsofcontingentconsiderationnotinthecostsofplayers’registrationswillbedisclosedseparatelyasacommitment.Amortisationofthecostsofthecontractwillbebaseduponlengthoftheplayer’sThecostsassociatedwiththerenegotiationofacontractshouldbeaddedtotheresidualbalanceoftheplayers’contractcostsatthedateofsigningthecontractextension.TherevisedcarryingamountshouldbeamortisedoverIAS36ImpairmentofIAS36appliestoimpairmentofallassetsotherdeferredtaxemployeebenefitfinancialinvestmentpropertyheldunderthefairvaluebiologicalassetsheldatfairvaluelesscoststonon-currentassetsheldforAssetsmustbecarriedatnomorethantheirrecoverableRecoverableAmountFairvaluelesscostsofdisposal

Anentityhasasinglemanufacturingplantwhichhasacarryingamount$749,000.Anewgovernmentelectedinthecountrypasseslegislationsignificantlyrestrictingexportsoftheproductproducedbytheplant.Asaresult,andfortheforeseeablefuture,theentity'sproductionwillbecutby40%.Cashflowforecastshavebeenpreparedderivedfromthemostrecentfinancialbudgets/forecastsforthenextfiveyearsapprovedbymanagement(excludingtheeffectsofgeneralpriceinflation):12345FuturecashIftheplantwassoldnowitwouldrealise$550,000,netofsellingcosts.Theentityestimatesthepre-taxdiscountratespecifictotheplanttobe15%,excludingtheeffectsofgeneralpriceinflation.CalculatetherecoverableamountoftheplantandanyimpairmentNote.PVfactorsat15%areasPVfactor12345Thefairvaluelesscostsofdisposaloftheplantisbelowitscarryingamountsoitmaybeimpaired.Itisnownecessarytofindthevalueinuseinordertodeterminewhetheranim