RA12.1 Real World Emphasis British Airways Access the annual report for British Airways Plc (BA) for the year ended December 31, 2017, from its parent company's website (www.iagshares.com). British Airways is now a part of the International Air- lines Group. Use the amounts in and notes to BA's group (that is, consolidated) financial statements to answer the following questions. Instructions a. Does British Airways Plc report any intangible assets or goodwill in its 2017 financial statements and accompanying notes? Identify all such accounts, describe their nature, their reported balance sheet amounts at December 31, 2017, and the accounting policies that are applied to these assets, including any general impairment policies. Are there any situations where there are discrepancies with IFRS standards? b. What additions were made to the landing rights and software for 2017? Do you expect the landing rights are mainly for use inside or outside the European Union? Explain briefly. c. How is goodwill tested for impairment? Provide details on the methods and key assumptions used by the company. Is information provided on the recoverable amounts determined? Were there any losses on impairment recorded in goodwill or other intangible assets in 2017? What assumptions would make the recoverable amount equal to the carrying amount for the network airline operations? d. Why is the information provided in part (c) considered helpful to users? RA12.1 Real World Emphasis British Airways Access the annual report for British Airways Plc (BA) for the year ended December 31, 2017, from its parent company's website (www.iagshares.com). British Airways is now a part of the International Air- lines Group. Use the amounts in and notes to BA's group (that is, consolidated) financial statements to answer the following questions. Instructions a. Does British Airways Plc report any intangible assets or goodwill in its 2017 financial statements and accompanying notes? Identify all such accounts, describe their nature, their reported balance sheet amounts at December 31, 2017, and the accounting policies that are applied to these assets, including any general impairment policies. Are there any situations where there are discrepancies with IFRS standards? b. What additions were made to the landing rights and software for 2017? Do you expect the landing rights are mainly for use inside or outside the European Union? Explain briefly. c. How is goodwill tested for impairment? Provide details on the methods and key assumptions used by the company. Is information provided on the recoverable amounts determined? Were there any losses on impairment recorded in goodwill or other intangible assets in 2017? What assumptions would make the recoverable amount equal to the carrying amount for the network airline operations? d. Why is the information provided in part (c) considered helpful to users