Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
ASIC watches Myer book value THE AUSTRALIAN ASIC watches Myer book value The value of Myer's goodwill has been a contentious issue. Picture: AAP ELI GREENBLAT THE AUSTRALIAN 2:14PM March 28, 2018 The corporate regulator has publicly acknowledged that it approached troubled department store chain Myer about the $1 billion book value of its goodwill and brand name intangibles before its recent interim loss. The retailer last week booked $524.5 million in impairments as it revealed a half-year loss of $476.22 million - its biggest loss in more than 100 years of operations.
The above extract from a newspaper article identifies ASIC (the regulator) as having concerns about whether Myer Ltd has been complying with the requirements of AASB 136 Impairment of Assets in prior accounting periods.
Required:
Problem 1: With reference to AASB 136 discuss factors which would have contributed to ASIC's belief that asset impairments were necessary in prior periods.
Problem 2: Identify potential explanations for Myer Ltd reporting a minimal asset impairment in its 2017 financial report.
Problem 3: Discuss the incentives that are potentially impacting management decision making on the recognition of asset impairments Show transcribed image text
What is meant by ratio analysis? Explain its significance in the analysis and interpretation of financial statements.
If they make annual payments into a savings plan, how much will they need to save each year? Assume the first payment comes in 1 year.
Different industries must be included that may relate : Food industry, banking, telecommunication. mining to support the ideas in your report.
Identify and explain the deficiencies in the statement prepared by the company's accountant. Include in your answer items that require additional disclosure, either on the face of the statement or in a note.
Should Markham Hotel sell at the higher price? If Markham Hotel sells its standard room at $100 and deluxe room at $120, it will have 100% occupancy.
Which of the following is subject to the Uniform Capitalization Rules of Code Sec. 263A?
My company uses LIFO to account for its inventory cost flow. At the end of the year, my inventory is valued on the balance sheet at $1,200,000 and my company's LIFO Reserve is $200,000. If my company used FIFO instead of LIFO, the value of its invent..
Super Savers Department Store's balance sheet revealed the information. Determine the amount of working capital reported in the balance sheet.
Discuss the importance of financial statement analysis and determine why it is important to investors and creditors. Imagine you are considering investing
What is the present value of the following future amount? $434,682, to be received 8 years from now, discounted back to the present at 6 percent
The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production.Bal.,900 unita, 35% completed 22,450, direct m..
Define a price taker and explain, using numerical example, why the average revenue and marginal revenue are equal to the price that the firm charges.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd