Answer Happy

homework questions The first question You have the followingdata as at the end of 2018 about SABIC, which uses InternationalFinancial Reporting Standards (IFRSs) in preparing its financialstatements: 1. There is a brand that was purchased on 1/1/2014 foran amount of 2,750,000 and has a useful life of 25 years and asalvage value of 250,000 and is amortized using the straight linemethod. On 1/1/2018, its useful life was changed to only 15 yearsfrom the date of acquisition, and the scrap value became 200,000.2. On 1/1/2008 a patent was purchased with a value of 40,000 riyalsand has no limited useful life. On 31/12/2018, the fair value ofthe asset was estimated at 35,000, the present value of futurebenefits at 34,000, and the undiscounted future value of thebenefits from using the asset 42,000. 3. There is a research thatwas launched to develop an intangible asset with a value of 200,000riyals at the beginning of 2018, knowing that 40% of these amountsare due to development costs that meet the conditions fordeveloping the asset. Required: What is the total assets of thecompany that will appear in the statement of financial position ason 31/12/2018 (indicate your answer and how each number iscalculated) second question 1. Are there internally generatedintangible assets that are not recorded in the company's books,explain this with examples. 2. In the event that the companyreceives an intangible asset as a government grant, how can it beaccounted for in accordance with international accountingstandards? The third question Al-Amal Company owns a group ofassets. As an expert in IFRS, you are required to provide. adviceon how to conduct an impairment test for each of the followingassets: 1- An asset classified on the basis of IAS 16 Property,Equipment and Plant. 2- Investments in associate companies inaccordance with the text of International Accounting Standard No.28 on accounting for investments in associates. 3- Exploration,evaluation and exploration costs recognized in accordance withInternational Financial Reporting Standard No. 6 for theexploration and evaluation of mineral resources. 4- Financialinvestments available for sale classified in accordance withInternational Accounting Standard No. 39 on financial instruments,recognition and measurement. 5- An asset classified as held forsale in accordance with the text of International FinancialReporting Standard No. 5 relating to assets held for sale.