Impairment Case (Tugas Presenter) Beno Corporation has one department which performs machining operations on parts which
are sold to contractors. A group of machines have a carrying value of $150,000 as of December 31, 2011. Based on the diminishing productivity expected of the machinery as it ages and the increasing cost that will be incurred to generate output from the machines, management analyzes the following future expected cash inflows and outflows during the machines’ useful life. Year 2012 2013 2014 2015 Totals Revenues (cash inflows) $100,000 80,000 60,000 28,000 $268,000 Cash Outflows $ 20,000 35,000 42,000 18,000 $115,000
The company determines the net selling price by reference to used machinery quotation sheets obtained from a prominent dealer. The selling price is $139,700 and the estimated disposition cost is $2,000. The value in use is calculated based on a risk rate of 6%. Instructions:
a. What factors are considered as the cause of impairment? b. Based on the case above, determine whether the company should recognize
a loss on impairment c. Calculate the depreciation expense for the year 2012, assuming straight line method is used by the company d. At the end of 2012, the company estimates the recoverable amount is $108,000. Prepare the journal entry, if any, to recover the impairment loss. Tugas Kelompok (Termasuk Kelompok Presenter) 1. Jelaskan pendapat anda terhadap kalimat berikut: “….depreciation has similar concept with impairment, since both decrease the book value of plant assets…” 2. Jelaskan indikator adanya impairment dan cara untuk melakukan impairment test. Apakah impairment test harus selalu dilakukan setiap tahun untuk semua jenis aset tetap dan aset tidak berwujud? (Silakan merujuk ke PSAK 48) 3. Berikan contoh laporan keuangan/catatan atas laporan keuangan perusahaan yang melakukan impairment test pada aset tetapnya (silakan mencari di internet).