homework questions

The first question

You have the following data as at the end of 2018 about SABIC, which uses International Financial Reporting Standards (IFRSs) in preparing its financial statements: 1. There is a brand that was purchased on 1/1/2014 for an amount of 2,750,000 and has a useful life of 25 years and a salvage value of 250,000 and is amortized using the straight line method. On 1/1/2018, its useful life was changed to only 15 years from the date of acquisition, and the scrap value became 200,000. 2. On 1/1/2008 a patent was purchased with a value of 40,000 riyals and has no limited useful life. On 31/12/2018, the fair value of the asset was estimated at 35,000, the present value of future benefits at 34,000, and the undiscounted future value of the benefits from using the asset 42,000. 3. There is a research that was launched to develop an intangible asset with a value of 200,000 riyals at the beginning of 2018, knowing that 40% of these amounts are due to development costs that meet the conditions for developing the asset. Required: What is the total assets of the company that will appear in the statement of financial position as on 31/12/2018 (indicate your answer and how each number is calculated)

second question 1. Are there internally generated intangible assets that are not recorded in the company's books, explain this with examples. 2. In the event that the company receives an intangible asset as a government grant, how can it be accounted for in accordance with international accounting standards?

The third question Al-Amal Company owns a group of assets. As an expert in IFRS, you are required to provide advice on how to conduct an impairment test for each of the following assets:

1- An asset classified on the basis of IAS 16 Property, Equipment and Plant.

2- Investments in associate companies in accordance with the text of International Accounting Standard No. 28 on accounting for investments in associates.

3- Exploration, evaluation and exploration costs recognized in accordance with International Financial Reporting Standard No. 6 for the exploration and evaluation of mineral resources.

4- Financial investments available for sale classified in accordance with International Accounting Standard No. 39 on financial instruments, recognition and measurement.

5- An asset classified as held for sale in accordance with the text of International Financial Reporting Standard No. 5 relating to assets held for sale.