- 16 Marks
PSAF- L2 – Q10.4 – International Public Sector Accounting Standards
Determine recoverable amount of three intangible assets for Nandom Technical University.
Question
The following information relates to three intangible assets in respect of Nandom Technical University.
| Brands (GHC) | Software (GHC) | Trade Marks (GHC) | |
|---|---|---|---|
| Carrying amount | 200,000 | 300,000 | 240,000 |
| Net realisable value | 220,000 | 250,000 | 200,000 |
| Value in use | 240,000 | 260,000 | 180,000 |
Required:
(a) What is the recoverable amount of each asset?
(b) Calculate the impairment provision for each of the assets.
(c) Explain the treatment of impairment losses.
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