Collison and Ryder Company (C&R) has been experiencing declining market conditions for its sportswear division....
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Collison and Ryder Company C&R has been experiencing declining market conditions for its sportswear division. Management decided to test the assets of the division for possible impairment. The test revealed the following: book value of divisions assets, $ million; fair value of divisions assets, $ million. Assume that the present value of the estimated future cash flows generated from the divisions assets is $ million and that their fair value approximates fair value less costs to sell. What amount of impairment loss should C&R report if the company prepares its financial statements according to IFRS? Note: Enter your answer in millions rounded to decimal place ie should be entered as
Collison and Ryder Company C&R has been experiencing declining market conditions for its sportswear division. Management decided to test the assets of the division for possible impairment. The test revealed the following: book value of divisions assets, $ million; fair value of divisions assets, $ million. Assume that the present value of the estimated future cash flows generated from the divisions assets is $ million and that their fair value approximates fair value less costs to sell.
What amount of impairment loss should C&R report if the company prepares its financial statements according to IFRS?
Note: Enter your answer in millions rounded to decimal place ie should be entered as
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