Icaew diploma in ifrss

Year 1 Year 2 Year 3 Year 4 Year 5

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icaew diploma in ifrss assignment 1 paper 17 oct 2011

Requirement Determine the value in use of the building and equipment at the current date (to the nearest $0.1 million (3 marks)

Year 1 Year 2 Year 3 Year 4 Year 5

$'m
$'m
$'m
$'m
$'m
Sales income less costs
200 180 150 110 60
Interest payments
(10)
(10
(10)
(10)
(10)
Tax payments
(75)
(60)
(54)
(45)
(33)
Disposal of asset
80
Proposed restructuring costs (to be approved)
(30) The pretax discount rate (adjusted to exclude the effects of inflation) is 10%. Cash flows are assumed to occur on the last day of each year.
Requirement
Determine the value in use of the building and equipment at the current date (to the nearest
$0.1 million
(3 marks) j) State whether each of the following are required or are not required to be reported separately on the face of the IFRS statement of financial position or statement of comprehensive income
(1) Share premium reserve
(2) Trade and other payables
(3) After tax loss on disposal of discontinued operations
(4) Profit or loss on the sale on property, plant and equipment
(5) Deferred tax expense
(6) Gross profit
(3 marks) k) A parent has had a controlling interest of 60% in its subsidiary fora number of years. Below are financial statement extracts of the two companies for the year ended
30 June 2011:

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