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Question.2559 - I. Introduction The Project component of the course is essential to passing this course. The project shows competency in understanding and applying the course objectives and achieving the learning outcomes. The project allows students to investigate, apply, research, and practice real life business situations. It is expected that each student to fully and actively participate in the project as an effective team member. The topic of this project is “IFRS applications about measurement, evaluation, and presentation of the property, plant, and equipment, & intangible assets.” Learning Outcomes 1. Understand IAS 16 Property, Plant and Equipment. 2. Describe the accounting treatments associated with intangible assets IAS 38. 3. Explain the accounting issues related to asset impairment IAS 36. 4. Explain the accounting for the revaluation model. 5. Describe the applications of IFRS in Listed Kuwaiti companies. II. Project Files The Project’s associated files will be shared on Moodle. Two main sources for the above project: • Academic articles and research papers from AUM library or other Academic resources. (minimum 5 references) • Annual reports: Kuwait stock market website https://www.boursakuwait.com.kw/Stock/Companies.aspx) or through the website of the selected company. • Kieso, Weygandt, and Warfield. Intermediate Accounting, IFRS edition, Third edition, Wiley.III. Project Summary (Scenario) The project deliverable will be discussed and practiced in class for further understanding and application. However, it is expected of each team to workin professional harmony and co-operation to produce quality deliverables and get this project done and delivered on time. Maximum size of team members for this project would be three. Each team is required to work on and submit a set of project deliverables. . IV. Deliverables & Project Management Deliverables: all Deliverables have to be submitted through Turnitin on Moodle. • Delivery: 3500 words ( Group Deliverable ) In this deliverable, students should submit: 1. IAS 36 “Impairment of Assets” includes: ? Key definitions of the standard ? Indications of Impairment ? Impairment of Goodwill ? Advantages and disadvantages for this standard to investors.2. A report clarifying and analyzing the behavior of the Kuwaiti companies regarding the application of the IFRS. This report join the knowledge students taken from academic articles and apply it for Kuwaiti listed companies. This report summarizing different measurements for different assets-depend on the company selected. These measurements include (at least) the following: - Cost concept application. - Fair market value applications. - Net realisable value applications. - Impairment or Revaluation applications.• Presentation and Discussion Group members are expected to present the deliverable in front of their colleagues and discuss their point of views about different applications identified by their project.Important Notes: Please refer to the assessment criteria below for the detailed outline of the components required in the final report.• It is the responsibility of the team to make sure that deliverables are of quality, and are submitted on the due date. • The project report is not to exceed the number of words as specified in each deliverable, single space typed (excluding appendices). • Your work needs to be authentic, using your own words, adding value, and creative. • Use proper citation of your work. • Similarity should not exceed the range between 20%. • A reference system should be used properly in APA. • Turnit-in: You are asked to upload a soft copy of all deliverables. • Turnit-in uploads of your report will only be allowed till the deadline of a delivery.V. Plagiarism One of the signs that the course material has been properly understood is honesty when accomplishing the assignments. Lack of academic integrity (e.g. plagiarism, copying another person’s work, the use of unauthorized aids on examinations, cheating, facilitating acts of academic dishonesty by others) will not be tolerated. Therefore, if students include ideas, sentences, or other material that are not theirs in their work, they must properly quote the source(s). Students are encouraged to consult with the instructor if they have any questions on the issues of academic integrity or technical formatting of the references. Upon suspicion and doubt of the authenticity of the work submitted, the Instructor has the right to ask the student to verify her/his work. This can be done through, but not limited to, repeating the work, oral examination or discussion, alternative or similar on spot class assignment, pop quiz, or any other action deemed necessary. If the student fails to prove the authenticity of the work, then the Instructor will apply the academic misconduct rules as mentioned in the AUM Student Handbook which may include awarding the work a zero grade.Students are expected and encouraged to be honest and to maintain the highest standards of academic integrity in their academic work and assignments at the University. Any act of Academic Dishonesty may result in severe consequences for violations range from zero grades given for the assignments, failing the course, and suspension from the University. Students will refrain from any academic dishonesty or misconduct including, but not limited to: • Plagiarism: the presentation of someone else’s ideas, words, or artistic, scientific, or technical work as one’s own creation. Also, paraphrasing, summarizing, like direct quotation, is considered as plagiarism, if the original source is not properly cited. • Cheating: is an act of lying, deception, trickery, imposture, or imposition. Cheating characteristically is employed to create an unfair advantage, usually in one’s own interest, and often at the expense of others. The person who is sending or receiving assistance is considered cheating. • Assisting in cheating. • Substituting for another student in the taking of an examination. • Substituting examination booklets/papers. • Submitting the same work for more than one course. • Submitting papers and other work written by others. • Receiving or providing unauthorized help or assistance in any academic work or assignment. • Intentional violation of program and degree requirements and regulations as established by the University. • Dishonest reporting of computational, statistical, experimental, and research results, or the like using any format of smart or electronic devices as a tool of cheating.For a detailed description of academic misconduct please refer tothe undergraduate AUM Student HandbookVI. Marking Scheme The main components of the projects grades are: Relevance of materials used to the task set 10 Application of appropriate techniques 10 Logical sequence and development 5 Evidence of background reading 15 Appropriate depth of analysis 15 Evaluation of issues/results 20 Use of supporting data/evidence 10 Use of referencing system and bibliography 10 Overall presentation 5 Total mark 100Bare pass mark The content of the reports demonstrate sufficient understanding of the key facts and processes associated with the topic but does not necessary presents its points correctly. Some of the justifications are questionable or some of the ideas are not clear. The document is missing some sections but the core subject of the topic is covered correctly. Presentation maybe missed or content is very poor.Pass mark The content of the reports demonstrate sufficient understanding of the key facts and processes associated with the topic and presents some of the points correctly. The justifications are limited but acceptable. The documentation is incomplete but the core subject of the topic is covered correctly with some evidence of planning. Presentation maybe presented very well but the content did not match the delivery.C classification The content of the report is good and demonstrate understanding of most of the facts associated with the topic. The justifications are generally all acceptable. The documentation is complete with suitable evidence of planning. Aspects of professional presentation of the work and documentation maybe incomplete, some of the initialstages may have not been completed on time (where subject for corrections), or the arguments presented are not backed by sufficient reasoning and analysis.B classification The content of the reports is of very high standards and demonstrate detailed understanding of the topic. All the reports are present and the justifications have sufficient reasoning provided with them. Good use of diagrams where applicable. The presentation documentation presented professionally. Aspects of initial documentations during the deliverable stages may have been subject to some corrections, documentation may have been excellent but presentation may have not met the standards expected.A classification The content of the reports is of outstanding level. Demonstrating students’ dedication from the early stages of study. Students demonstrate full understanding of the topic and applications are correctly applied. All reports are presented with near flawless justifications. Excellent use of diagrams where applicable. The presentation of documentation is professional. Aspects of initial documentations were only subject to cosmetic corrections. Final presentation of the work is of very high standards.

Answer Below:

IAS xxxxxxxxxx of xxxxxxxxxxx view xx IAS xxx Primary xxxxxxxxx of xxx Impairment xx Assets xx that xxxxxx value xx the xxxxxxxxx statement xxxxxx be xxxxxxx at xxxx value xxxx is xxx value xxxxxx not xxxxxx its xxxxx in xxx or xxx price xx get xx we xxxx that xxxxx which xxxx is xxxx so xxxx investor xxxx get xxxxxx assets xxxxx in xxx financial xxxxxxxxxx The xxxxxx must xxxxxx the xxxxx of xxxxx assets xx the xxxxxx it xxxxxxx its xxxxxxxxxxx value xxxxx recoverable xxxxx means xxxxx in xxx or xxxxxxx selling xxxxx of xxx assets xxxxx ever xx less xxx recognise xxxx impairment xxxx in xxxxxx and xxxx statement xxx shall xxxxx to xxx the xxxxxx except xxx those xxxxxxx for xxxxx impairment xxx covered xx the xxxxx specific xxxxxxxxx for xxxxxxx deferred xxx assets xxxxxxxxx Assets xxxxxxxxxxx and xxxxx biological xxxxxx Key xxxxxxxxxxx of xxx standard xxxxxxxx amount xx the xxxxxx at xxxxx an xxxxx is xxxxxxxxxx after xxxxxxxxx any xxxxxxxxxxx depreciation xxxxxxxxxxxx and xxxxxxxxxxx impairment xxxxxx thereon x cashgenerating xxxx is xxx smallest xxxxxxxxxxxx group xx assets xxxx generates xxxx inflows xxxx are xxxxxxx independent xx the xxxx inflows xxxx other xxxxxx or xxxxxx of xxxxxx Corporate xxxxxx are xxxxxx other xxxx goodwill xxxx contribute xx the xxxxxx cash xxxxx of xxxx the xxxxxxxxxxxxxx unit xxxxx review xxx other xxxxxxxxxxxxxx units xxxxx of xxxxxxxx are xxxxxxxxxxx costs xxxxxxxx attributable xx the xxxxxxxx of xx asset xx cashgenerating xxxx excluding xxxxxxx costs xxx income xxx expense xxxxxxxxxxx amount xx the xxxx of xx asset xx other xxxxxx substituted xxx cost xx the xxxxxxxxx statements xxxx its xxxxxxxx value xxxxxxxxxxxx Amortisation xx the xxxxxxxxxx allocation xx the xxxxxxxxxxx amount xx an xxxxx over xxx useful xxxx Fair xxxxx is xxx price xxxx would xx received xx sell xx asset xx paid xx transfer x liability xx an xxxxxxx transaction xxxxxxx market xxxxxxxxxxxx at xxx measurement xxxx See xxxx Fair xxxxx Measurement xx impairment xxxx is xxx amount xx which xxx carrying xxxxxx of xx asset xx a xxxxxxxxxxxxxx unit xxxxxxx its xxxxxxxxxxx amount xxx recoverable xxxxxx of xx asset xx a xxxxxxxxxxxxxx unit xx the xxxxxx of xxx fair xxxxx less xxxxx of xxxxxxxx and xxx value xx use xxxxxx life xx either x the xxxxxx over xxxxx an xxxxx is xxxxxxxx to xx used xx the xxxxxx or x the xxxxxx of xxxxxxxxxx or xxxxxxx units xxxxxxxx to xx obtained xxxx the xxxxx by xxx entity xxxxx in xxx is xxx present xxxxx of xxx future xxxx flows xxxxxxxx to xx derived xxxx an xxxxx or xxxxxxxxxxxxxx unit xxxxxxxxxxx of xxxxxxxxxx As xxxxxxxxx above xx asset xx impaired xx it xxxxxxxx value xxxxxxx its xxxxxxxxxxx amount xxx indications xxx impairment xxx be xxxxxxxx or xxxxxxxx Internal xxxxxxxxxxx for xxxxxxxxxx are xxxxx is xxxxx that xxxxxx are xxxxxxxx or xxxxxxx physically xxxxx are xxxxxxxxxxx that xxxxxxxxxxx with xxxxx adversely xxxxxx the xxxxxx and xxx life xx asset xxx been xxxxxxx Asset xxx become xxxx in xxxxxx the xxxxxxx workers xxxxxxxxxx with xxx assets xxx not xxxxxxxxx etc xxxxxxxx performance xx the xxxxx will xxxxxxxxx affect xxxxxxxxxxxx Funds xxxxxxxx to xxxxxxx or xxxxxxxx assets xxx drastically xxxxxxxxx compared xxxx estimates xxxx estimated xxxx flows xxxx assets xxxxxxxxxxxx are xxxx than xxxxxxxxx require xx operate xxx asset xxxxxxxx indications xxx impairment xxxxxx Value xxx been xxxxxxx drastically xxxx expected xxx to xxxxxxx of xxxx or xxxxx Critical xxxxxxx are xxxxxxxx to xxxxxx in xxx market xxxxxxx operating xxxxx makes xxx use xx this xxxxx obsolete xx may xx in xxxxxxxxxxxxx legal xx economic xxxxxxxxxxx Discount xxxxx are xxxxxxxxx compared xx period xxxx asset xxx purchased xxx to xxxxxxxx in xxxxxx rate xx returns xx these xxxxxxxx rates xxx used xx fetch xxxxx in xxx of xxxxxx this xxxxxxxxxx reduces xxxxxx recoverable xxxxx significantly xxx written xxxx value xx asset xx more xxxx the xxxxxx capitalization xxxxxxxxxx of xxxxxxxx Impairment xxxx for xxxxxxxx is xxx same xx that xxx other xxxxxxxxxxxxxxx intangibles xxxx is xxxxxxxxx need xx test xxx impairment xx goodwill xx least xxxxxxxx However xxxxxxxx can xxxx generate xxxx flows xxxx combination xx other xxxxxx the xxxxxxxxxx test xx conducted xxxxx on xxx cash-generating xxxx through xxxxx goodwill xx generating xxxxxxxxx companies xxxxxxxx a xxxx generating xxxx based xx the xxxxxxxx identifiable xxxxx of xxxxxx that xxxxxxxx cash xxxxx independently xx the xxxx flows xxxx other xxxxxx Under xxxx when x company xxxxxxx goodwill xx a xxxxxxxx combination xx must xxxxxx the xxxxxxxx to xxx cash xxxxxxxxxx unit xxxx is xxxxxxxx to xxxxxxx from xxx synergies xxx other xxxxxxxx arising xxxx the xxxxxxxx combination xx intangible xxxxx is xxxxxxxx when x company xx not xxxx to xxxxxxx the xxxxx s xxxxxxxx amount xxxxxx through xxxxx it xx by xxxxxxx it xx impairment xxxx is xxxxxxxx in xxx income xx the xxxxxxxxxxx amount xxx greater xx fair xxxxx less xxxxx to xxxx and xxxxxxxxxxxx of xx intangible xxxxx is xxxx than xxx carrying xxxxx Impairment xxxxxx on xxxxxxxxxx assets xxxxx than xxxxxxxx may xx reversed xxx only xx to xxx carrying xxxxxx that xxxxx have xxxx recorded xx the xxxxxxx of xxx impairment xx test xxx impairment xxxxxxxx must xx allocated xx each xx the xxxxxxxx s xxxxxxxxxxxxxxx units xx groups xx cash-generating xxxxx that xxx expected xx benefit xxxx the xxxxxxxxx of xxx combination xxxxxxxxxxxx of xxxxxxx other xxxxxx or xxxxxxxxxxx of xxx acquiree xxx assigned xx those xxxxx or xxxxxx of xxxxx Each xxxx or xxxxx of xxxxx to xxxxx the xxxxxxxx is xx allocated xxxxx represent xxx lowest xxxxx within xxx entity xx which xxx goodwill xx monitored xxx internal xxxxxxxxxx purposes xxx not xx larger xxxx an xxxxxxxxx segment xxxxxxxxxx in xxxxxxxxxx with xxxxxxxxx Segments xx the xxxxxxxxxxx amount xx the xxxx exceeds xxx carrying xxxxxx of xxx unit xxx unit xxx the xxxxxxxx allocated xx that xxxx is xxx impaired xx the xxxxxxxx amount xx the xxxx exceeds xxx recoverable xxxxxx of xxx unit xxx entity xxxx recognise xx impairment xxxx The xxxxxxxxxx loss xx allocated xx reduce xxx carrying xxxxxx of xxx assets xx the xxxx group xx units xx the xxxxxxxxx order xxxxx reduce xxx carrying xxxxxx of xxx goodwill xxxxxxxxx to xxx cash-generating xxxx group xx units xxx then xxxxxx the xxxxxxxx amounts xx the xxxxx assets xx the xxxx group xx units xxx rata xx the xxxxx The xxxxxxxx amount xx an xxxxx should xxx be xxxxxxx below xxx highest xx its xxxx value xxxx costs xx disposal xx measurable xxx value xx use xx measurable xxxx If xxx preceding xxxx is xxxxxxx further xxxxxxxxxx of xxx impairment xxxx is xxxx pro xxxx to xxx other xxxxxx of xxx unit xxxxx of xxxxx Advantages xxx Disadvantages xxx this xxxxxxxx to xxxxxxxxx Advantages xx Provides xxxxxxxxx Real xxxxx of xxx assets xxxxxxx sheet xxxxxxxx of xxx Assets xx may xx over xxxxxx especially xxxxxxxx which xx generated xxxxxx business xxxxxxxxxxxx which xxx be xxx to xxxxxxxxx have xxxxx paid xxx stocks xxxxx inflated xxxxxxxxxx make xxxxxxxxx to xxx more xxxx its xxxxx while xxxxxx securities xxxx standard xxxxxxxx investors xxxx above xxxxxx This xxxxxxxxxx charges xxxx helps xxxxxxxxx to xxxxxxxx management xxxxxxxxx efficiency xxx their xxxxxxxxxx of xxxxxx aspects xxxxxxxxx can xxxx their xxxxxxxxx based xx the xxxx value xx assets xxxxxx than xxxx value xx assets xx this xxxxxxxx mandates xxxxxxxxx to xxxxx impairment xxx bring xxxx assets xx their xxxxxxxxxxx value xxxxxxxxxxxxxx This xxxxxxxx allows xxxxxxxxx to xxxxxx goodwill xxxxx by xxx own xxxx may xxxx incorrect xxxxx as xxxxxxxxx experts xxx different xxxxxxxxx models xxxxx is xx exact xxxxxxx to xxxxxxx goodwill xx is xxx obligatory xxx companies xx disclose xxx Goodwill xxxxx is xxxxxxx in xxx financials xx companies xxxx not xxxxxxxx the xxxxxxxxxxxxx for xxx value xx goodwill xx again xxxxxxx Jeopardy xx how xxxx will xx valued xxxx creditors xxxxxxx financial xxxxxxxxxx based xx the xxxxxxxxx ratios xxxxx again xxxxxxx on xxx value xx assets xx the xxxxxxxxx apply xxxxxxxxxx profits xxxx decrease xx it xxxxxxxx impairment xxxx along xxxx of xxxxxxxx in xxxxx of xxxxxx this xxxxxxxxx effect xxx financial xxxxxx as x result xxxxxxxxx may xxxxxxxx their xxxxxxxxx assistance xx not xxxxxx further xxxxx again xxxxxxxxx effect xx operations xx company xx the xxxxxxx is xxxx depends xx Debt xx even xxxx more xxxxxxxx impactApplication xx IFRS xx Kuwaiti xxxxxxxxx All xxxxxxx companies xxxxx are xxxxxx on xxx Kuwait xxxxx Exchange xxx are xxxxxxxx to xxxxxx the xxxxxxxxxxxxx Financial xxxxxxxxx Standards xxxxx and xxxxxx the xxxxxxx regulations xxx laws xxxxxx by xxxxx governmental xxxxxx namely xxxxxxxx of xxxxxxxx and xxxxxxxx MCI xxx Central xxxx of xxxxxx CBK xxx the xxx The xxx is xxxxx over xxx verification xx compliance xxxx commercial xxxxxxx law xxx other xxxxxxxxxxx The xxx depends xx the xxxxxxxxx auditor x report xx assess xxx compliance xxxx IFRSs xxxxxxxxxxxx However xxx CBK xxxxxxx on xxx auditors xx inspect xxx compliance xxxxx and xxxxx legal xxxxxxxxxxxx In xxxxxx listed xxxxxxxxx act xx accordance xxxx commercial xxxxxxx law xxx securities xxxxxx law xxxxxx a xxxxxxxxx Technical xxxxxxxxx PTC xxx created xx Ministerial xx set xxxxxxxxxx principles xxxx the xxx s xxxxxxxxx and xxxxxx declared xxxx developments xx accounting xxxxxxxxxx in xxxxxx depends xx accounting xxxxxxxxx should xx in xxx with xxxxx used xx developed xxxxxxxxx whenever xx is xxxxxxxx to xxxxxxx business xxxxxxxxxxx During xxx MCI xxxxxxxxxx all xxxxxx companied xx the xxx to xxxxxx with xxxxx requirements xxx resolution xxx become xxxxxxxxx in xxxxxxxx of xxxx is xxxxxxxx to xxxx a xxxx impact xx the xxxxxxxxxx level xxx transparency xx well xx increasing xxxxxxxxxxxxx of xxxxxxxxx statements xx both xxxxxxxx and xxxxxxxxxxxxx companies xxx IASs xxx applicable xxxxx that xxxxx is xx conflict xxxx the xxxxx laws xxxxxxxxxxx and xxxxxxxx environment xxx old xxxxxxxxx are xxxxxxxxx complying xxxx IFRS xxxx effectively xxxx compared xx newly xxxxxxxxxxx or xxxxxx companies xxx industry xx which xxxxxxx operating xxxx plays x vital xxxx in xxxxxxxxxxx whether xxx companies xxx effectively xxxxxxxx IFRS xx their xxxxxxxxxx To xxxxxxxx in xxxx section xx considered xxxxx Industries xxxxxxxxxx ACICO xxxxxxxxxx stated xx its xxxxxx report xxxx financials xxx under xxxxxxxxxx cost xxxxxxxxxx except xxx certain xxxxxxxxx assets xxxxxxxxx for xxxx and xxxxxxxxxx properties xxxx are xxxxxx at xxxxx fair xxxxx Historical xxxx is xxxxxxxxx based xx the xxxx value xx the xxxxxxxxxxxxx given xx exchange xxx goods xxx services xxxx value xx the xxxxx that xxxxx be xxxxxxxx to xxxx an xxxxx or xxxx to xxxxxxxx a xxxxxxxxx in xx orderly xxxxxxxxxxx between xxxxxx participants xx the xxxxxxxxxxx date xx from xxxx disclosure xx evident xxxx these xxxxxxxxx fallowing xxxx concept xxx fair xxxxxx value xx another xxxxxxxxx concept xxxxx application xx IFRS xx financialsThe xxxxxx report xxx following xxxxxxxxxx regarding xxxx value xxxxxxxxxxx Fair xxxxx is xxx price xxxx would xx received xx sell xx asset xx paid xx transfer x liability xx an xxxxxxx transaction xxxxxxx market xxxxxxxxxxxx at xxx measurement xxxx The xxxx value xxxxxxxxxxx is xxxxx on xxx presumption xxxx the xxxxxxxxxxx to xxxx the xxxxx or xxxxxxxx the xxxxxxxxx takes xxxxx either xx the xxxxxxxxx market xxx the xxxxx or xxxxxxxxx In xxx absence xx a xxxxxxxxx market xx the xxxx advantageous xxxxxx for xxx asset xx liability xxx assets xxx liabilities xxx which xxxx value xx measured xx disclosed xx the xxxxxxxxx statements xxx categorised xxxxxx the xxxx value xxxxxxxxx described xx follows xxxxx on xxx lowest xxxxx input xxxx is xxxxxxxxxxx to xxx fair xxxxx measurement xx a xxxxx Level xxxxxx unadjusted xxxxxx prices xx active xxxxxxx for xxxxxxxxx assets xx liabilities xxxxx Valuation xxxxxxxxxx for xxxxx the xxxxxx level xxxxx that xx significant xx the xxxx value xxxxxxxxxxx is xxxxxxxx or xxxxxxxxxx observable xxxxx Valuation xxxxxxxxxx for xxxxx the xxxxxx level xxxxx that xx significant xx the xxxx value xxxxxxxxxxx is xxxxxxxxxxxx Fair xxxxx is xxx price xxxx would xx received xx sell xx asset xx paid xx transfer x liability xx an xxxxxxx transaction xxxxxxx market xxxxxxxxxxxx at xxx measurement xxxx Account xxxxxxxxxxx are xxxxxxx receivables xxxx entities xxxxx in xxxxxxxx course xx business xxx its xxxxxxxxx recognised xx company xx its xxxx value xxx subsequently xxxxxxxx at xxxxxxxxx cost xxxxx the xxxxxxxxx interest xxxxxx less xxxxxxxxx for xxxxxxxxxx A xxxxxxxxx for xxxxxxxxxx of xxxxx receivables xx established xxxx there xx objective xxxxxxxx that xxx Group xxxx not xx able xx collect xxx amounts xxx according xx the xxxxxxxx terms xx the xxxxxxxxxxx Financial xxxxxx those xxxxxxxxx for xxxx are xxxxxxxxxxxxxx financial xxxxxx They xxx categorised xxxxx non-current xxxxxx until xxxxxxxxxx intention xxx to xxxxxxx of xxx financial xxxxx within xxxxxx from xxx end xx the xxxxxxxxx period xxxxxxxxx and xxxxx of xxxxx financial xxxxxx are xxxxxxxx on xxxxxxxxxx the xxxx on xxxxx the xxxxx purchase xx sell xxx asset xxxxxxxxx assets xxx initially xxxxxxxxxx at xxxx value xxxx transaction xxxxx for xxx financial xxxxxx not xxxxxxx at xxxx value xxxxxxx profit xx loss xxxxxxxxx assets xxxxxxxxx for xxxx are xxxxxxxxxxxx carried xx fair xxxxx The xxxx values xx quoted xxxxxxxxx assets xxx based xx current xxxxxx prices xx the xxxxxx for x financial xxxxx is xxx available xxx for xxxxxxxx securities xxx entity xxxx fair xxxxx by xxxxx valuation xxxxxxxxxx These xxxxxxx the xxx of xxxxxx arm x length xxxxxxxxxxxx reference xx other xxxxxxxxxxx that xxx substantially xxx same xxxxxxxxxx cash xxxx analysis xxx option xxxxxxx models xxxxxxx to xxxxxxx the xxxxxx s xxxxxxxx circumstances xxxxxxxx and xxxxxxxxxx gains xxx losses xxxx financial xxxxxx at xxxx value xxxxxxx profit xx loss xxx included xx the xxxxxxxxxxxx statement xx profit xx loss xxxxxxxxxx gains xxx losses xxxxxxx from xxxxxxx inthe xxxx value xx financial xxxxxx available xxx sale xxx recognized xx cumulative xxxxxxx in xxxx value xx other xxxxxxxxxxxxx income xxxxxx for xxxxxxxxx for xxxx debt xxxxxxxxxxx where xxx foreign xxxxxxxx differences xxxxxxxxx is xxxxxxxxxx in xxx consolidated xxxxxxxxx of xxxxxx or xxxx while xxxxx fair xxxxx changes xxx recognized xx cumulative xxxxxxx in xxxx value xx other xxxxxxxxxxxxx income xxxxxxxxxx of xxxxxx is xxxx done xx bring xxx Assets xx its xxxx value xx Kuwaiti xxxxxxxxx trade xxxxxxxx and xxxxxxxxxx are xxxxxxxxxx initially xx fair xxxxx Investment xxxxxxxxxx are xxx assets xxxx for xxxxxxx appreciation xx any xxxxx income xxxxxxxxxx measurement xx investment xxxxxxxx at xxxx value xx end xx accounting xxxxxx During xxxxxxxx combination xxxxxx and xxxxxxxxxxx of xxxxxxxxxx company xxx measured xx fair xxxxx Net xxxxxxxxxx value xxxxxxxxxxxx Net xxxxxxxxxx value xx the xxxxxxxxx selling xxxxx in xxx ordinary xxxxxx of xxxxxxxx less xxx costs xx completion xxx selling xxxxxxxx Write-down xx made xxx obsolete xxx slow-moving xxxxx based xx their xxxxxxxx future xxx and xxx realizable xxxxx Inventories xxx valued xx the xxxxx of xxxx or xxx realizable xxxxx after xxxxxxxxx allowances xxx any xxxxxxxx or xxxxx moving xxxxx Properties xxxxxxxx or xxxxx developed xxx sale xx the xxxxxxxx course xx business xxxxxx than xx be xxxx for xxxxxx or xxxxxxx appreciation xxx held xx properties xxxx for xxxxxxx and xxx measured xx lower xx cost xx net xxxxxxxxxx value xxxxxxx receivables xxx written xxxx to xxxxx Net xxxxxxxxxx value xx providing xxxxxxxxx to xxx debts xxxxxxxxxx or xxxxxxxxxxx applications xxx annual xxxxxx on xxxxxxxxxx accounting xxx mentioned xxxxx The xxxxx assesses xx the xxx of xxxx reporting xxxxxx whether xxxxx is xxxxxxxxx evidence xxxx a xxxxxxxxx asset xx a xxxxx of xxxxxxxxx assets xx impaired xx the xxxx of xxxxxx securities xxxxxxxxxx as xxxxxxxxx for xxxx a xxxxxxxxxxx or xxxxxxxxx decline xx the xxxx value xx the xxxxxxxx below xxx cost xx considered xx determining xxxxxxx the xxxxxxxxxx are xxxxxxxx Significant xxxxxxx is xxxxxxxxx against xxx original xxxx of xxx financial xxxxx and xxxxxxxxx against xxx period xx which xxxx value xxx been xxxxx its xxxxxxxx cost xx any xxxx evidence xxxxxx for xxxxxxxxx assets xxxxxxxxx for xxxx the xxxxxxxxxx loss xxxxxxxx as xxx difference xxxxxxx the xxxxxxxxxxx cost xxx the xxxxxxx fair xxxxx less xxx impairment xxxx on xxxx financial xxxxx previously xxxxxxxxxx in xxxxxx or xxxx is xxxxxxx from xxxxx comprehensive xxxxxx and xxxxxxxxxx in xxx consolidated xxxxxxxxx of xxxxxx or xxxx Impairment xxxxxx recognized xx the xxxxxxxxxxxx statement xx profit xx loss xx available xxx sale xxxxxx instruments xxx not xxxxxxxx through xxx consolidated xxxxxxxxx of xxxxxx or xxxx Impairment xxxxxx recognized xxx available xxx sale xxxx instruments xxx reversed xxxxxxx the xxxxxxxxxxxx statement xx profit xx loss xx the xxxxxxxx in xxxx value xxx be xxxxxxxxxxx related xx an xxxxx occurring xxxxx the xxxxxxxxxx loss xxx previously xxxxxxxxxxxxxxxxxx is xxxxxxxxx recognized xx an xxxxx at xxxx and xx subsequently xxxxxxxx at xxxx less xxx accumulated xxxxxxxxxx losses xx impairment xxxxxxx goodwill xx allocated xx each xx the xxxxx s xxxxxxxxxxxxxxx units xxxxxxxx to xxxxxxx from xxx synergies xx the xxxxxxxxxxx Cash-generating xxxxx to xxxxx goodwill xxx been xxxxxxxxx are xxxxxx for xxxxxxxxxx annually xx more xxxxxxxxxx when xxxxx is xx indication xxxx the xxxx may xx impaired xx the xxxxxxxxxxx amount xx the xxxxxxxxxxxxxxx unit xx less xxxx the xxxxxxxx amount xx the xxxx the xxxxxxxxxx loss xx allocated xxxxx to xxxxxx the xxxxxxxx amount xx any xxxxxxxx allocated xx the xxxx and xxxx to xxx other xxxxxx of xxx unit xxxxxxxx based xx the xxxxxxxx amount xx each xxxxx in xxx unit xx impairment xxxx recognized xxx goodwill xx not xxxxxxxx in x subsequent xxxxxx At xxx end xx each xxxxxxxxx date xxx Group xxxxxxx the xxxxxxxx amounts xx its xxxxxxxx and xxxxxxxxxx assets xx determine xxxxxxx there xx any xxxxxxxxxx that xxxxx assets xxxx suffered xx impairment xxxx If xxx such xxxxxxxxxx exists xxx recoverable xxxxxx of xxx asset xx estimated xx determine xxx extent xx the xxxxxxxxxx loss xx any xxxxx it xx not xxxxxxxx to xxxxxxxx the xxxxxxxxxxx amount xx an xxxxxxxxxx asset xxx Group xxxxxxxxx the xxxxxxxxxxx amount xx the xxxxxxxxxxxxxxx unit xx which xxx asset xxxxxxx Recoverable xxxxxx is xxx higher xx the xxxx value xxxx costs xx sell xxx value xx use xx assessing xxxxx in xxx the xxxxxxxxx future xxxx flows xxx discounted xx their xxxxxxx value xxxxx a xxxxxxxx rate xxxx reflects xxxxxxx market xxxxxxxxxxx of xxx time xxxxx of xxxxx and xxx risks xxxxxxxx to xxx asset xx the xxxxxxxxxxx amount xx an xxxxx or xxxx generating xxxx is xxxxxxxxx to xx less xxxx it xx carrying xxxxxx the xxxxxxxx amount xx the xxxxx or xxxx generating xxxx is xxxxxxx to xxx recoverable xxxxxx An xxxxxxxxxx loss xx recognized xxxxxxxxxxx in xxxxxxxxxxxx statement xx profit xx loss xxxxxx the xxxxxxxx asset xx carried xx a xxxxxxxx amount xx which xxxx the xxxxxxxxxx loss xx treated xx a xxxxxxxxxxx decrease xxxxx an xxxxxxxxxx loss xxxxxxxxxxxx reverses xxx carrying xxxxxx of xxx asset xx cash xxxxxxxxxx unit xx increased xx the xxxxxxx estimate xx its xxxxxxxxxxx amount xxx so xxxx the xxxxxxxxx carrying xxxxxx does xxx exceed xxx carrying xxxxxx that xxxxx have xxxx determined xxx no xxxxxxxxxx loss xxxx recognized xxx the xxxxx or xxxx generating xxxx in xxxxx years x reversal xx an xxxxxxxxxx loss xx recognized xxxxxxxxxxx in xxxxxxxxxxxx statement xx profit xx loss xxxxxx the xxxxxxxx asset xx carried xx a xxxxxxxx amount xx which xxxx the xxxxxxxx of xxx impairment xxxx is xxxxxxx as x revaluation xxxxxxxx An xxxxxxxxxx exists xxxx the xxxxxxxx value xx an xxxxx or xxxx generating xxxx exceeds xxx recoverable xxxxxx which xx the xxxxxx of xxx fair xxxxx less xxxxx to xxxx and xxx value xx use xxx fair xxxxx less xxxxx to xxxx calculation xx based xx available xxxx from xxxxxxx sales xxxxxxxxxxxx in xx arm x length xxxxxxxxxxx of xxxxxxx assets xx observable xxxxxx prices xxxx incremental xxxxx for xxxxxxxxx of xxx asset xxx value xx use xxxxxxxxxxx is xxxxx on x discounted xxxx flow xxxxx The xxxx flows xxx derived xxxx the xxxxxx for xxx next xxxx years xxx do xxx include xxxxxxxxxxxxx activities xxxx the xxxxx is xxx yet xxxxxxxxx to xx significant xxxxxx investments xxxx will xxxxxxx the xxxxx s xxxxxxxxxxx of xxx cash xxxxxxxxxx unit xxxxx tested xxx recoverable xxxxxx is xxxx sensitive xx the xxxxxxxx rate xxxx for xxx discounted xxxx flow xxxxx as xxxx as xxx expected xxxxxx cash xxxxxxx and xxx growth xxxx used xxx extrapolation xxxxxxxx

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