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DipIFR Examiner Reports – Insights

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The Diploma in International Financial Reporting (DipIFR) examiner reports are one of the most useful resources for understanding where students lose marks. Across multiple sittings, some recurring mistakes show up consistently. Students preparing for the upcoming examination can strengthen their concepts and application skills through a structured DipIFR preparation course focused on exam-oriented IFRS learning and practical application technique What the Examiner Really Wants A professional analysis of the DipIFR Examiner’s Reports — synthesised for students and teachers preparing for the upcoming examination. Key Findings: Students who understand the standards but fail to apply them to the specific scenario score far below their potential. After analysing the recent examiner’s reports, the patterns are clear, consistent and mistakes can be entirely avoided. The Examination pattern - Which does not change The DipIFR examination has a fixed pattern. Understanding this structure is ...

IAS 36- Impairment of Assets- Part 3

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  n our previous blogs, as a part of   IAS 36- Impairment of Assets ,   we discussed on what is cash generating unit (CGU), recoverable value, value in use and how to calculate impairment loss etc.   Impairment loss   is calculated as carrying value of an asset or CGU less its recoverable value. In this blog we will further discuss how to  recognise and measure impairment loss  of individual asset or CGU or group of CGU, whether with and without goodwill. Accounting entries for impairment loss on assets or CGU is provided for easy understanding. We’ll also discuss the  manner of impairment testing  to be followed if testing of individual assets/ CGUs coincides with the CGU/ Group of CGUs to which they belong. Recognising and measuring impairment loss (A) Individual asset or CGU without goodwill Accounting entry: Statement of P&L / OCI (in case of revalued assets) A/c Dr. (Impairment loss, if any on individual asset or CGU without goodwill...