How problem should be addressed in the financial statements

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Fair presentation The directors of an Australian company that is required to prepare financial reports under the Corporations Act conclude that applying the requirements of AASB 136/IAS 36 Impairment of Assets would not provide a fair presentation because the resulting $80 000 impairment loss is temporary.

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Question 1: Advise the directors how this problem should be addressed in the financial statements in accordance with AASB 101/IAS 1

Reference no: EM132601677

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