In other news



Who else is also waiting for game of thrones season 7?

optimusmind:
In other news



Who else is also waiting for game of thrones season 7?

only u.

olasquare22:


only u.

Lol...
That's sad.

The movie is a banger

jokes apart am expecting my result oooo

ciggy000:
jokes apart am expecting my result oooo

Who is not...

Is the movie as bulky and boring as ICAN syllabus?

optimusmind:
In other news



Who else is also waiting for game of thrones season 7?

Banjousman:
Is the movie as bulky and boring as ICAN syllabus?

definitely not.

Banjousman:
Is the movie as bulky and boring as ICAN syllabus?

Firstly, ICAN isn't boring to me.
Secondly the movie is twice as interesting and bulky as ICAn syllabus

ruffneck:
Who is not...

speak for yourself pls

ciggy000:

speak for yourself pls

What are you doing here then?

am of the opinion that this thread should not be derailed. why bringing up movie series on here.if we wanna ease tension due to the delay of the result we all know what to do but when we come up on this thread let our discussion be within the confine of what of what d thread was intended to achieve

Chartered accountants to be,

What is the difference between impairment, depreciation, and amortisation?

And when a financial asset is categorized as Available for sale financial asset(AFS asset) , how is profit from revalution treated when the asset is disposed?


15 marks

optimusmind:
Chartered accountants to be,

What is the difference between impairment, depreciation, and amortisation?

And when a financial asset is categorized as Available for sale financial asset(AFS asset) , how is profit from revalution treated when the asset is disposed?


15 marks

Ok

optimusmind:
Chartered accountants to be,

What is the difference between impairment, depreciation, and amortisation?

And when a financial asset is categorized as Available for sale financial asset(AFS asset) , how is profit from revalution treated when the asset is disposed?


15 marks

Lol

optimusmind:
Chartered accountants to be,

What is the difference between impairment, depreciation, and amortisation?

And when a financial asset is categorized as Available for sale financial asset(AFS asset) , how is profit from revalution treated when the asset is disposed?


15 marks

Ok

Depreciation occurs when there is reduction in the value of an asset as a result of continual use and other external factors.

Impairment occurs when the cost of an asset is greater than the recoverable amount of the asset.

Amortization is the word for intangible Asset in a form of Depreciation.

As regards the second question, I leave it for the bosses on this forum.

optimusmind:
Chartered accountants to be,

What is the difference between impairment, depreciation, and amortisation?

And when a financial asset is categorized as Available for sale financial asset(AFS asset) , how is profit from revalution treated when the asset is disposed?


15 marks

Google it

godsluvee:
Google it

Everyone can do that, based on your own knowledge let's hear it...


We can burn time with this.

kelvinreality:


Ok

Depreciation occurs when there is reduction in the value of an asset as a result of continual use and other external factors.

Impairment occurs when the cost of an asset is less than the recoverable amount of the asset.

Amortization is the word for intangible Asset in a form of Depreciation.

As regards the second question, I leave it for the bosses on this forum.

1. For depreciation, I'd give you 40%

2. While impairment, 55%

3. Amortisation 40%

optimusmind:
Chartered accountants to be,

What is the difference between impairment, depreciation, and amortisation?

And when a financial asset is categorized as Available for sale financial asset(AFS asset) , how is profit from revalution treated when the asset is disposed?


15 marks

Is there no one who can answer this?

optimusmind:


1. For depreciation, I'd give you 40%

2. While impairment, 55%

3. Amortisation 40%

Unto say u na ICAN abi?
Lwkm...kwantinu!!

optimusmind:

1. For depreciation, I'd give you 40%
2. While impairment, 55%
3. Amortisation 40%

it's ok

ruffneck:

Unto say u na ICAN abi?
Lwkm...kwantinu!!

Hehe.
2nd assessor

kelvinreality:


it's ok

.

Correction

Depreciation is the systematic allocation of the historical cost if an asset over the period of its useful life.

While impairment is a reduction in the value of an asset as a result of
1. Physical damage
2. Wear and tear
3. Reduction in the value (above that which would be caused by normal passage of time)
4. Obsolescence etc
In accounting term, when you carry an asset above its. recoverable amount

optimusmind:

Everyone can do that, based on your own knowledge let's hear it...


We can burn time with this.

lol. I will answer it only if it helps me pass CR. Deal??

optimusmind:
.

Correction

Depreciation is the systematic allocation of the historical cost if an asset over the period of its useful life.

While impairment is a reduction in the value of an asset as a result of
1. Physical damage
2. Wear and tear
3. Reduction in the value (above that which would be caused by normal passage of time)
4. Obsolescence etc
In accounting term, when you carry an asset above its. recoverable amount

Congrats in advance . You answered everything

optimusmind:
.

Correction

Depreciation is the systematic allocation of the historical cost if an asset over the period of its useful life.

While impairment is a reduction in the value of an asset as a result of
1. Physical damage
2. Wear and tear
3. Reduction in the value (above that which would be caused by normal passage of time)
4. Obsolescence etc
In accounting term, when you carry an asset above its. recoverable amount

more rightly, impairment is the reduction in recoverable cost as compared with carrying cost.This is more pronounced as carrying cost isn't the same as historical cost.As with definition, with respect to depreciation, 'reduction in value of an asset(total depreciation)'-correct in its own right.Your definition'allocation of cost'-also correct as it deals with methods of depreciation-allocating the depreciation so computed. Lastly, depreciation is more of internal causes of reduction in asset value while impairment considers externalities-either ways, both consider asset loss of value.

Lol

miscoe:

more rightly, impairment is the reduction in recoverable cost as compared with carrying cost.This is more pronounced as carrying cost isn't the same as historical cost.As with definition, with respect to depreciation, 'reduction in value of an asset(total depreciation)'-correct in its own right.Your definition'allocation of cost'-also correct as it deals with methods of depreciation-allocating the depreciation so computed. Lastly, depreciation is more of internal causes of reduction in asset value while impairment considers externalities-either ways, both consider asset loss of value.

Actually....depreciation is not loss of value of an asset,impairment is

ruffneck:
Actually....depreciation is not loss of value of an asset,impairment is

I disagree.How do you define 'loss of value'?

miscoe:

more rightly, impairment is the reduction in recoverable cost as compared with carrying cost.This is more pronounced as carrying cost isn't the same as historical cost.As with definition, with respect to depreciation, 'reduction in value of an asset(total depreciation)'-correct in its own right.Your definition'allocation of cost'-also correct as it deals with methods of depreciation-allocating the depreciation so computed. Lastly, depreciation is more of internal causes of reduction in asset value while impairment considers externalities-either ways, both consider asset loss of value.

My hands are up


Answer the second one on AFS financial asset

godsluvee:
lol. I will answer it only if it helps me pass CR. Deal??

No deal... How about you answer the second question on AFS financial asset and be sure of your pass in CR.


In other news,




The secretary of ICAN District society, Enugu chapter, indicated that results could be out tomorrow.

YES RESULT WILL BE OUT 2MOROW