Hello and welcome to my channel, where I share tips and tricks on how to ace the CPA’s Common Final Examination. In this video, I will explain how to apply the ASPE 3051 Investments. This is a very important topic that you need to master for the CFE as it involves recognizing and measuring impairment of investment and its significant influence and disclosing the relevant information in the financial statements. It is also important because it provides guidance on the recognition, measurement, presentation, and disclosure of investments.
► Guidance on the classification, measurement, impairment, and disclosure
of investments
► Investments are classified as either cost or equity method based on the
level of influence over the investee
► Investments are measured at cost or equity method unless there is an
impairment loss or a significant change in circumstances
► Disclosure requirements include the carrying amount, nature, and extent
of investments
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Best of luck with your studies!
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