Economic Recession – NBC Institute

CR – May 2017 – L3 – Q3a – Impairment of Assets (IAS 36)

Discuss why FRCN should focus on impairment of non-financial and deferred tax assets during economic recession.

Question

The economic environment in the country has been very harsh, and it is now common knowledge that the economy is in a recession. This downturn impacts the income-generating capacity of companies, particularly in industries experiencing a significant decline in fortunes. Consequently, financial reporting regulators must closely examine evidence of impairment of assets in financial statements submitted by such companies.

Required:
Discuss briefly the reasons why the Financial Reporting Council of Nigeria (FRCN) should focus on the impairment of non-financial assets and deferred tax assets of listed companies in Nigeria during this period of slow economic growth. Also, outline the key areas entities should focus on when accounting for these items.

Answer

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Tags: Deferred Tax, Economic Recession, IAS 12, IAS 36, Impairment
Level: Level 3

Topic: Impairment of Assets (IAS 36)

PSAF – Nov 2016 – L2 – Q5a – Fiscal Policy and Public Finance

This question discusses how external borrowing can assist in overcoming the economic recession in Nigeria.

Question

Discuss how external borrowing can bail out the Nigerian economy from the economic recession.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Economic Recession, External Borrowing, Fiscal Policy, Nigerian Economy, Public Debt
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2016

CR – May 2017 – L3 – Q3a – Impairment of Assets (IAS 36)

Discuss why FRCN should focus on impairment of non-financial and deferred tax assets during economic recession.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Deferred Tax, Economic Recession, IAS 12, IAS 36, Impairment
Level: Level 3

Topic: Impairment of Assets (IAS 36)

PSAF – Nov 2016 – L2 – Q5a – Fiscal Policy and Public Finance

This question discusses how external borrowing can assist in overcoming the economic recession in Nigeria.

Question

Discuss how external borrowing can bail out the Nigerian economy from the economic recession.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Economic Recession, External Borrowing, Fiscal Policy, Nigerian Economy, Public Debt
Level: Level 2

Topic: Fiscal Policy and Public Finance
Series: NOV 2016

Question Tag: Economic Recession

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CR – May 2017 – L3 – Q3a – Impairment of Assets (IAS 36)

Discuss why FRCN should focus on impairment of non-financial and deferred tax assets during economic recession.

PSAF – Nov 2016 – L2 – Q5a – Fiscal Policy and Public Finance

This question discusses how external borrowing can assist in overcoming the economic recession in Nigeria.

CR – May 2017 – L3 – Q3a – Impairment of Assets (IAS 36)

Discuss why FRCN should focus on impairment of non-financial and deferred tax assets during economic recession.

PSAF – Nov 2016 – L2 – Q5a – Fiscal Policy and Public Finance

This question discusses how external borrowing can assist in overcoming the economic recession in Nigeria.

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Question Tag: Economic Recession

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CR – May 2017 – L3 – Q3a – Impairment of Assets (IAS 36)

Discuss why FRCN should focus on impairment of non-financial and deferred tax assets during economic recession.

You're reporting an error for "CR – May 2017 – L3 – Q3a – Impairment of Assets (IAS 36)"

PSAF – Nov 2016 – L2 – Q5a – Fiscal Policy and Public Finance

This question discusses how external borrowing can assist in overcoming the economic recession in Nigeria.

You're reporting an error for "PSAF – Nov 2016 – L2 – Q5a – Fiscal Policy and Public Finance"

CR – May 2017 – L3 – Q3a – Impairment of Assets (IAS 36)

Discuss why FRCN should focus on impairment of non-financial and deferred tax assets during economic recession.

You're reporting an error for "CR – May 2017 – L3 – Q3a – Impairment of Assets (IAS 36)"

PSAF – Nov 2016 – L2 – Q5a – Fiscal Policy and Public Finance

This question discusses how external borrowing can assist in overcoming the economic recession in Nigeria.

You're reporting an error for "PSAF – Nov 2016 – L2 – Q5a – Fiscal Policy and Public Finance"

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