Financial Statement

[03hasanm]

could someone please kindly explain how the following is written in balance sheet and income statement:

1) patents have infinite life, and impairment showed asset selling value is 8000, and value in use is 12000

2) goodwill orginally in 2009 balance sheet as 10000. if goodwill has finite life of 5 years, and we use straight line amortisation

how do these affect balance sheet and IS?

 

[GraemeL]

could someone please kindly explain how the following is written in balance sheet and income statement:

1) patents have infinite life, and impairment showed asset selling value is 8000, and value in use is 12000

2) goodwill orginally in 2009 balance sheet as 10000. if goodwill has finite life of 5 years, and we use straight line amortisation

how do these affect balance sheet and IS?

Suggest you post this on the accounting forum. Most of us on here can't count anything except profit.

 

[vvaannmmaann]

We used to get things like,"If it takes four men three days to dig a trench 25 yards long by four feet deep and three feet wide,how long would it take six men to dig"
I still don't know the answer.

 

[GraemeL]

We used to get things like,"If it takes four men three days to dig a trench 25 yards long by four feet deep and three feet wide,how long would it take six men to dig"
I still don't know the answer.

You are posing this to the forum then?


G

 

[vvaannmmaann]

My posing days are long over.