Emma understood accounting, but could not stand the posters here. In mid-Novermber, Emma and I both tried to convince patchh he is wrong about asset impairment in NCU. Here was the last post from Emma on the topic:
___
Accounting for dummies
Quarterly in TSX not audited doesn't mean you can do whatever you want
asset in banane sheet (p2 of q3): 854m
-> breakdown on p9-10 is 828 for development cost, 24 for use of asset = 854m (net of depreciation given gross amount is 870m)
-> means the company has spent that much since the beginning of its life
-> impairment if happen would mean the balance go down not up and this would be an expense
-> gross amount has been up since Dec 2019. See the freaking table on page 9. Gross amount top right was 608m, then 749m then 870m
Conclusion: there has never been any impairment (doesn't mean there won't be)
Patch be quiet on that topic.