buletin ştiin ific - Facultatea de Stiinte Economice - Universitatea din ...

The importance of actuarial accounting for the assessment of the elements of the financial statementsBy analysing the recoverable value (VR) that is maximum (VJN, VU), we obtain the followingresults:- year N : VR=225,000 >VNC=180,000 m.u. There is no impairment loss;- year N +1 VR=108,000 VNC=140,000 m.u. ; There is no impairment lossThe recoverable value of a cash-generating unit is the maximum between the fair valueless the costs with the transfer to this unit and its value in use.In order to exemplify the method of estimating the recoverable value of the cashgeneratingunit, we are taking into account the following application:A mining company is testing the mine for depreciation. The restoration cost at the end ofthe mining activities is recognized as being 750 m.u., this cost being recognized as part of themine cost and being depreciated along its useful life. The book value of the provision for therestoration is 750 m.u., an equal value to the discounted/present value of the restoration costs.The cash-generating unit for the mine is the mine itself, taken as a whole. The offers to purchasethe mine are made for the price of 1,200 m.u., this price also including the buyer’s taking-over ofthe obligation to restore the mine land. The costs to sell the mine are insignificant. Its utilityvalue is approximately 1,800 m.u., excluding the restoration costs. The book value of the mine is1,500 m.u.Based on the above-mentioned data, the obtained results are as follows:-the fair value less the costs to sell for the cash-generating unit is 1,200 m.u., this valueincludes the restoration costs;- the utility value of the cash-generating unit is calculated by taking into account therestoration costs, consequently: 1800-750 =1,050 m.u.- the book value of the cash-generating unit is the book value of the mine (1,500) less thebook value of the provision for the restoration costs (750) ;- the recoverable value of the cash-generating unit is maximum (1200, 1050) =1200, avalue that is higher than its book value;- in conclusion, there is no impairment loss for the analysed cash-generating unit.2. The calculation of the fair value, less the costs to sellAccording to this standard, the costs to sell does not represent all the costs implied inthe selling process, but only the costs that are directly related to the asset selling process, such as:legal costs, post fees, and the taxes for similar transactions, asset transport costs, additional directcosts with bringing an asset to an optimal selling condition.The calculation of the fair value, less the costs to sell, is made by taking into account thefollowing rules:- the fair value except the costs to sell is the price of the transaction an objectively agreedprice, adjusted function of the marginal costs related to the transfer of the respective asset,when there is a binding sale agreement;- if there is no binding sale agreement, but an asset is traded on an active market, the fair valueexcept the costs to sell is the market price of the asset, less the transfer costs;- if there is no sale agreement or no active market for an asset, the fair value except the costs tosell is based on the best available information in order to represent the amount a companycould obtain, on the date of the balance, by willingly selling the active, between two awareparties, within a transaction in which the price is objectively agreed, after the deduction ofthe transfer costs.The calculation of the fair value less the costs to sell is exemplified below:63