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Determine if the licence is impaired at the end

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At the end of 2017, Flounder Corporation owns a licence with a remaining life of 10 years and a carrying amount of $537,000. Flounder expects undiscounted future cash flows from this licence to total $542,800. The licence's fair value is $431,600 and disposal costs are estimated to be nil. The licence's discounted cash flows (that is, value in use) are estimated to be $481,600. Flounder prepares financial statements in accordance with ASPE.

Problem (a) Determine if the licence is impaired at the end of 2017.

Reference no: EM132806945

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