Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please I need answer p 4) Procter & Gamble Company reported impairment losses for the impairment of goodwill and other intangible assets in 2019. Referring

Please I need answer p
image text in transcribed
4) Procter & Gamble Company reported impairment losses for the impairment of goodwill and other intangible assets in 2019. Referring to Procter & Gamble's 2020 annual report, address the following: a) State the amounts of impairment losses of goodwill and other intangible assets. (3.5 marks) b) Which cash generating unit suffered an impairment loss related to goodwill and other intangible asset? (1.5 mark) c) What were the underlying business reasons that required Procter & Gamble to record a goodwill impairment in 2019? (5 marks) d) How did Procter & Gamble reflect the 2019 goodwill impairment in its income statement and cash flow statement? (3 marks) c) Which method did Procter & Gamble use in preparing its cash flow statement? Provide a proof for your answer (2 marks) Almost all businesses have been badly affected by the spread of Covid-19 in 2020, Nevertheless, Procter & Gamble's 2020 annual report shows that net income in 2020 is significantly higher than net income in 2019. Give an explanation for this situation and provide evidence from annual report. (3 marks) Write your answer in the space provided in the following table: Answer Page(s) in Annual report

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting And Reporting

Authors: Barry Elliott, Jamie Elliott

19th Edition

1292255994, 9781292255996

More Books

Students also viewed these Accounting questions

Question

What entry must be included in the Class statement of a subclass?

Answered: 1 week ago