eoin

cpk123 Wrote:
-------------------------------------------------------
> damil4real
>
> you might want to check on the annual unit credit.
>
>
> There is some errata correction on the CFAI site
> related to the annual unit credit calculations on
> pg 104-105, and it does relate to this same
> question, I believe.
>
>
> CP


I don't have my book with me now, but I'll check it later on today and provide an update if anything. I'm still trying to see how the annual unit credit calculations would be different though, but I'll check it later.

scarecrow

1. B
2. A
3. B
4. C
5. A
6. C
7. A
8. B
9. C
10. I will have to go back and study.
11. C
12. A
13. C

firat

DBrin - 13% correctly answered.

b_sea93

Thanks for this Damil...i got smoked. Quick question.............

6) Which of the following statement is correct?

A) If the fair value of the investment declines below its carrying value, US GAAP requires an impairment loss to be recognized on the income statement.

B) Both IFRS and US GAAP prohibit the reversal of impairment losses even if the fair value later increases.

C) Only US GAAP prohibit the reversal of impairment losses even if the fair value later increases.

WHY is it B and not C? I thought impairments of long-lived assets that are not being held for sale can be fully reversed, but GAAP prohibited it.

tarunajwani

i agree, should be C

tikfed

Can someone please walk through the calculations for Q 2,3 and 4?