$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket?
Book Your Assignment at The Lowest Price
Now!
Students Who Viewed This Also Studied
ACCG2024 Financial Accounting and Reporting
Questions:
The Board was concerned about the company’s reputational standing in the market if ASIC found any deviations from AASB requirements in this matter. They have, therefore, decided to have a review of the relevant disclosures and areas of concern in the company’s annual report undertaken as recommended by ASIC. The Board also decided that the CFO would be responsible for this review. Based on the Board’s request, the CFO asks you to draft a business research report addressed to the Board of Directors on the following:
Question 1:
Summarise the disclosure requirements for impairment of non-financial assets as per AASB 136.
Question 2:
Critically analyse to what extent the latest annual report of your company meets the disclosure requirements for impairment of the non-financial assets as per AASB 136.
Question 3:
A critical analysis of some of the complexities and key issues involved in impairment testing. In your analysis, you can refer to one or more publications issued by the ‘Big 4’ firms, accounting professional bodies or academic journals.
Question 4:
In relation to the company that you choose, identify four specific issues that the directors should consider when reviewing the impairment calculations that will shortly be prepared by management. For each issue identified, explain how it is specifically relevant to your company.
Impairment testing and asset values The recoverability of the carrying amounts of assets such as goodwill, other intangibles and property, plant and equipment continues to be an important area of focus. It is important for directors and auditors to ensure:
a. Cash flows and assumptions are reasonable having regard to matters such as historical cash flows, economic and market conditions, and funding costs. Particularly where prior period cash flow projections have not been met, careful consideration should be given to whether current assumptions are reasonable and supportable.
b. Discounted cash flows are not used to determine fair value less costs of disposal where forecasts and assumptions are not reasonable and supportable.
c. Cash flows used are matched to carrying values of all assets that generate those cash flows, including inventories, receivables and tax balances.
d. Discount rates and other key assumptions are reasonable and supportable.
e. Cash generating units (CGUs) are not identified at too high a level, including where cash inflows for individual assets are not largely independent; and f. for testing goodwill, CGUs are not grouped at a higher level than the operating segments or the level at which results are monitored for internal management purposes.
ACCG2024 Financial Accounting and Reporting
Answer in Detail
Solved by qualified expert
Get Access to This Answer
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.
Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.
Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.
Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.
14 More Pages to Come in This Document. Get access to the complete answer.
buying coursework online from MyAssignmenthelp.com is the best decision you will ever make. Our coursework help services are packed with solid features such as 3000+ coursework experts, timely delivery, free revisions, plagiarism-free solutions and affordable prices. Our coursework writing services will always help you get the grades. You can call us to get expert help with your coursework.
More ACCG2024 ACCG2024 Financial Accounting and Reporting: Questions & Answers
ACW1100 Introduction to financial Accounting
1. The focus of risk management practices in the banking industry is to manage an institutions exposure and risk (losses). Search and comment on the above statement.2.Bank risk management requires risk measurement that behave randomly .Bank risk is a random variable. Define the following Basic stati …
View Answer
HI5017 Managerial Accounting
Task
Question 1
GEM Ltd leases a photocopy machine with terms that include a fixed fee each month plus a charge for each photocopy made. GEM made 5,000 copies and paid a total of $600 in January. In April, they paid $400 for 3,000 copies.
Required:
a) What is the variable cost per copy if GE …
View Answer
ACFI2003-Management Accounting
Assignment
The manufacturing cost for Buccaneers Ltd for next year is expected to be made up as follows:
$000
Direct materials:
Forming department
450
Machining department
100
Finishing department
50
Direct l …
View Answer
Cost and Management Accounting
Part AYou are a management accountant at WCP Management Consultants. You have been approached by Greenwood Medical Centre (GMC). GMC performs X-rays, ultrasounds, CT scans and MRIs. It has developed a reputation as a top radiology centre in the state. GMC has achieved this status because it constant …
View Answer
Content Removal Request
If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the
content removal request.
Choose Our Best Expert to Help You
Jaida Patrick
I am research scholar at Michigan State University, acquiring my doctorate degree on Paediatrics.
350 – Completed Orders
Hire Me
Cooper Cassidy
Master of Information Technology with Specialization in Networks and Information Security
2779 – Completed Orders
Hire Me
Patrick Wagner
PhD in Electrical Engineering with specialization in Signal Processing
365 – Completed Orders
Hire Me
Still in Two Minds? The Proof is in Numbers!
38983 Genuine Reviews With a Rating of 4.9/5.
Economics
Assignment: 3.2 Pages, Deadline:
3 days
The assisgnment was properly written with great content and structure. Thank You for the assistance.
User ID: 1***22 Singapore
Management
Home Work: 2 Pages, Deadline:
9 days
I am glad to use assignment help. I get nice assignment help from the different trainers.
User ID: 4***45 Australia
Psychology
Thesis: 1 Page, Deadline:
6 days
I am very satisfied the work your company does. My papers have never looked so good. Thank you very much for this.
User ID: 8***47 Singapore
Management
Essay: 4.4 Pages, Deadline:
18 hours
Thank you for the effort of both the author and the expert. Thank you for the effort. The topic is excellent, and I hope to continue at this high leve …
User ID: 9***3 Kuwait
HRM
Assignment: 3 Pages, Deadline:
4 days
very good paper, all aspects covered by the author, which was not easy given the scope
User ID: 3***61 Budapest, Hungary
Management
Home Work: 2 Pages, Deadline:
15 days
The information provided is very clear and used good examples and references. There are no grammatical mistakes at all and the standard of writing is …
User ID: 7***15 Berlin, Germany
Nursing
Assignment: 1 Page, Deadline:
5 days
Thank you for the quality assignment , I always trust and get good mark from assignment help . Thank you for helping .
User ID: 4***73 Berlin, Australia
Healthcare
Assignment: 8 Pages, Deadline:
3 days
I have passed my assignment. I got my assignment back on time. Thank you very much.
User ID: 6***42 Berlin, Australia
Psychology
Essay: 8 Pages, Deadline:
10 days
Good work. I will do business again. Great customer service. Greta expert…….
User ID: 8***51 Berlin, United Arab Emirates
Assignment
Home Work: 3 Pages, Deadline:
5 days
I love the work your company does. My papers have never looked so good. Thank you very much for this.
User ID: 5***00 Berlin, United States
Healthcare
Assignment: 4 Pages, Deadline:
5 days
I got a good grade on this paper thank you for help and I will order more papers
User ID: 7***29 Garden City, United States
Accounting
Programming: 2.8 Pages, Deadline:
3 days
like the work and the way of writing and the marks was good as i got 79 marks and i like the formate of the writing.
User ID: 6***31 Leichhardt, Australia
Management
Assignment: 7 Pages, Deadline:
5 days
the paper was well written and I passed thank you for your service I would pay again
User ID: 7***29 Garden City, United States
Economics
Assignment: 2 Pages, Deadline:
20 hours
The assignment was received on time and I have to check the assignment and will get back for the feedback thank you
User ID: 8***40 Vancouver, Canada
Accounting
Course Work: 0 Pages, Deadline:
11 hours
Everything was met and done perfectly! It hasn’t been graded but through the explanations, I was able to understand the assignment and how the expe …
User ID: 8***57 Vancouver, Canada
HRM
Assignment: 9 Pages, Deadline:
2 days
Got the great and satisfied result. Thank you the expert team. But the expert team need to write more real and work life example for each assignment i …
User ID: 4***0 Central District, Hong Kong
Management
Home Work: 9 Pages, Deadline:
2 days
Got the great and satisfied result for this assignment. Thank you the expert team, but give little suggest to the team, the assignment need to more re …
User ID: 4***0 Central District, Hong Kong
Management
Assignment: 8 Pages, Deadline:
8 hours
Really impressed by your work. the report really good. all the points are detailly explained and the report format looks great.
User ID: 4***87 Melbourne, Australia
Geography
Essay: 6 Pages, Deadline:
3 days
Thank you so much it was amazing and everything was perfect the MLA format was correct and the easy was well written thank you alotttt for your help …
User ID: 8***43 Melbourne, Kuwait
Nursing
Assignment: 6 Pages, Deadline:
6 days
i was pretty happy with the grades and with next time the reports need to be clear and very easy to understand
User ID: 6***1 Canberra, Australia
Economics
Assignment: 3.2 Pages, Deadline:
3 days
The assisgnment was properly written with great content and structure. Thank You for the assistance.
User ID: 1***22 Singapore
Management
Home Work: 2 Pages, Deadline:
9 days
I am glad to use assignment help. I get nice assignment help from the different trainers.
User ID: 4***45 Australia
Psychology
Thesis: 1 Page, Deadline:
6 days
I am very satisfied the work your company does. My papers have never looked so good. Thank you very much for this.
User ID: 8***47 Singapore
Management
Essay: 4.4 Pages, Deadline:
18 hours
Thank you for the effort of both the author and the expert. Thank you for the effort. The topic is excellent, and I hope to continue at this high leve …
User ID: 9***3 Kuwait
HRM
Assignment: 3 Pages, Deadline:
4 days
very good paper, all aspects covered by the author, which was not easy given the scope
User ID: 3***61 Budapest, Hungary
Management
Home Work: 2 Pages, Deadline:
15 days
The information provided is very clear and used good examples and references. There are no grammatical mistakes at all and the standard of writing is …
User ID: 7***15 Berlin, Germany
Nursing
Assignment: 1 Page, Deadline:
5 days
Thank you for the quality assignment , I always trust and get good mark from assignment help . Thank you for helping .
User ID: 4***73 Berlin, Australia
Healthcare
Assignment: 8 Pages, Deadline:
3 days
I have passed my assignment. I got my assignment back on time. Thank you very much.
User ID: 6***42 Berlin, Australia
Psychology
Essay: 8 Pages, Deadline:
10 days
Good work. I will do business again. Great customer service. Greta expert…….
User ID: 8***51 Berlin, United Arab Emirates
Assignment
Home Work: 3 Pages, Deadline:
5 days
I love the work your company does. My papers have never looked so good. Thank you very much for this.
User ID: 5***00 Berlin, United States
Healthcare
Assignment: 4 Pages, Deadline:
5 days
I got a good grade on this paper thank you for help and I will order more papers
User ID: 7***29 Garden City, United States
Accounting
Programming: 2.8 Pages, Deadline:
3 days
like the work and the way of writing and the marks was good as i got 79 marks and i like the formate of the writing.
User ID: 6***31 Leichhardt, Australia
Management
Assignment: 7 Pages, Deadline:
5 days
the paper was well written and I passed thank you for your service I would pay again
User ID: 7***29 Garden City, United States
Economics
Assignment: 2 Pages, Deadline:
20 hours
The assignment was received on time and I have to check the assignment and will get back for the feedback thank you
User ID: 8***40 Vancouver, Canada
Accounting
Course Work: 0 Pages, Deadline:
11 hours
Everything was met and done perfectly! It hasn’t been graded but through the explanations, I was able to understand the assignment and how the expe …
User ID: 8***57 Vancouver, Canada
HRM
Assignment: 9 Pages, Deadline:
2 days
Got the great and satisfied result. Thank you the expert team. But the expert team need to write more real and work life example for each assignment i …
User ID: 4***0 Central District, Hong Kong
Management
Home Work: 9 Pages, Deadline:
2 days
Got the great and satisfied result for this assignment. Thank you the expert team, but give little suggest to the team, the assignment need to more re …
User ID: 4***0 Central District, Hong Kong
Management
Assignment: 8 Pages, Deadline:
8 hours
Really impressed by your work. the report really good. all the points are detailly explained and the report format looks great.
User ID: 4***87 Melbourne, Australia
Geography
Essay: 6 Pages, Deadline:
3 days
Thank you so much it was amazing and everything was perfect the MLA format was correct and the easy was well written thank you alotttt for your help …
User ID: 8***43 Melbourne, Kuwait
Nursing
Assignment: 6 Pages, Deadline:
6 days
i was pretty happy with the grades and with next time the reports need to be clear and very easy to understand
User ID: 6***1 Canberra, Australia
Have any Query?
The post ACCG2024 Financial Accounting and Reporting : Cash Flows appeared first on My Blog.
