Exam technique agenda:
Part 1 – Ethics
Part 2 – Risk
Part 3 – Accounting issues
Part 4 – Audit procedures
Part 5 – Auditor reporting
Part 3 – Accounting issues
這個考點應該是覆蓋整個考試的考點了，無論是planning階段還是completion階段都可以考到，當然也可能出現在recommend audit procedures和audit evidence類型的題目裡。這個考點涵蓋的小知識點也非常多，需要考生對SBR中要求的會計準則都有所掌握。一些會計處理可能會很複雜，即使我們無法保證知道這些複雜的處理，我們至少也應該會掌握那些比較straight forward的會計處理方式，比如 the valuation of inventory at the lower of cost and net realisable value。本文會列舉兩個例子，大家可以自己整理出每個會計準則的重要知識點（如果後面有時間可能也會發文整理，看看大家的需求）。
Example 1 – Impairment
99%的可能性會考到，必須會！
此處只列出一些重要知識點，考試的時候要記得結合案例進行解釋，單純默寫會計準則是不夠的。
An asset is impaired if its carrying amount is higher than recoverable amount.
The recoverable amount of an asset is the higher of its value in use and its fair value less disposal costs.
Value in use: the present value of future cash flows deriving from the asset or group of assets
Fair value less disposal costs: the price which would be received in an orderly transaction between market participants – e.g., what you could sell it for
Where an asset is impaired, it should be written down to its recoverable amount and generally that loss would be taken to the statement of profit or loss for the year.
An impairment review is required for assets where there is an indicator of impairment such as a change in technology, increase in interest rates or possible obsolescence.
There is also a specific rule to perform annual impairment reviews on intangible assets with indefinite lives, intangible assets not yet available for use and purchased goodwill (remember that internally generated goodwill isn’t recognised).
Where an asset cannot be assessed for its recoverable amount individually it can be assessed as part of a cash generating unit. Where this is done the impairment is written off against the assets of the cash generating unit by allocating first against goodwill then against the other assets on a prorated basis but no asset should be reduced below the higher of its fair value less costs of disposal or value in use.
Example 2 – Intangibles
重要知識點summary：
①identifiable (capable of being separated and sold/transferred and arise from contractual or other legal rights)
② controlled
③ provide future economic benefits
In order to be recognised as an asset there must be a probable future economic benefit arising from the asset and the cost must be capable of reliable measurement. If this is not possible then expenditure on the asset must be recognised as an expense. This is why internally generated brands and customer lists are not allowed to be recognised but purchased ones can be (including those purchased as part of the acquisition of another company)
Subsequent treatment of intangible assets will be either on a historical cost basis or under a fair value model if it is possible that fair value can be determined by reference to an active market (eg production quotas, taxi licences).
By definition brands are unique and therefore it would not be possible to compare to an active market hence the fair value model does not apply and they cannot be revalued upwards.
Intangible assets will either have a finite life (a limited period of benefit to the company over which the asset will be amortised with the amortisation expense being charged to profit and loss) or an indefinite life (where no foreseeable limit to the period of economic benefits exist – hence no amortisation is charged)
Where an asset is deemed to have an indefinite life it is not amortised but the useful life should be reviewed every reporting period to determine whether events continue to support an indefinite life and additionally, the asset should be assessed for impairment each reporting period.
All intangible assets are subject to an impairment review where there is an indicator of impairment.
如果題目中出現的會計處理方式是不對的，那麼就會產生相應的風險；另一種考法是讓審計師去找相應的evidence，執行相應的procedures，更具體的會在audit procedure的文章中進行解釋。