Q.No.1(a): An asset is considered to be impaired if its carrying value is more than its recoverable amount. In order to assess whether an asset has impaired, IAS 36 describes a number of indications based on internal and external sources of information. What are these indications? (Marks 03)

Q. No.1(b): A cash generating unit consists of the following assets at their carrying values as at December 31,2019: (Marks 05)

Rs. 000

Building Rs.90,000

Plant Rs.40,000

Goodwill Rs.30,000

Current assets Rs.60,000

Total Rs.220,000

An impairment review was undertaking on December 31,2019 and it was found that the estimated recoverable amount of the cash generating unit was Rs. 160 million.

Required:

How the amount of impairment loss of the cash generating unit will be allocated to different assets as per IAS 36- Impairment of Assets?

Subject Is Financial Reporting 2 Answer is require on immegiate basis