User Account

All Pages

Which assets are carried at fair value

Assignment Help Other Subject
Reference no: EM132271780

Assignment: Part A - Revaluations and impairment testing of non-current assets.

1. Word limit: 250 words

One of the board of directors of Simba Ltd has proposed that the company adopt the revaluation model for fixed assets. Some of these assets are hard to obtain and certain items have increased in value in the current period, however it is difficult to know what their fair value is. The director is arguing that fair value will improve the ‘look' of the company's Statement of Financial Position, and may eliminate the need for depreciation.

Required: Discuss whether the board should adopt the director's proposal.

2. Word limit: 250 words

‘Impairment is only relevant to assets carried under the cost model. For assets carried under the revaluation model, such as our land and buildings, increases and decreases in fair value dictate whether carrying amounts are adjusted up or down. We don't bother testing land and buildings for impairment'.

Required: Critically evaluate the above statement.

3. Word limit: 1 500 words

Find the Annual Report Medibank for 2018 on the Australian Securities Exchange (www.as.com.au). Evaluate this Annual Report consistent with the requirements of AASB 13/IFRS 13 Fair value Measurement, AASB 116/IAS 16 Property Plant and Equipment, and AASB 136/IAS 39 Impairment of Assets.

Required: (a) Which assets are carried at fair value?

(b) State where and what disclosures regarding the fair value measurement of assets have been made.

(c) Which assets are tested for impairment?

(d) State where and what disclosures regarding the impairment of assets have been made.

Reference no: EM132271780

Questions Cloud

Assuming the firm wants to maximize its profits : If p MP1
The use of schlossbergs adult learning theory : Present an argument for the use of Schlossberg's adult learning theory in combination with other theories to support your project training objective.
Describe which sorts of firms are competing in this industry : Describe which sorts of firms are competing in this industry and which are not and explain the differences between the two (boundaries of the industry).
Write down the firm total cost function : A price-taking firm has marginal cost MC = 20 + 10q, average variable cost AVC = 20 + 5q, and fixed costs of 500, where q refers to the output of the firm.
Which assets are carried at fair value : One of the board of directors of Simba Ltd has proposed that the company adopt the revaluation model for fixed assets. Some of these assets are hard to obtain.
Explore the world of restaurant and food service concepts : For your first assignment you will begin to explore the world of restaurant and food service concepts.
Shut down point compared to the avc curve : In Pure Competition, where is the shut down point compared to the AVC curve?
Identify and describe leadership traits demonstrated : What is the take-away with respect to leadership and communication that you can take away from this film?
Break-even point compared to the atc curve : In Pure Competition, where is the break-even point compared to the ATC curve?

Reviews

Write a Review

Other Subject Questions & Answers

  Explain briefly how you will secure performance data

List three important ways that parts of your new marketing plan can be measured after it has been in the marketplace. Explain briefly how you will secure.

  Discuss psychological criteria used as a means of persuasion

Discuss the psychological criteria used as a means of persuasion. Include at least five factors that will make your advertisement compelling.

  Princeton reviews list of top college majors

Using the material that we have covered, address ways how the topic may be relevant in the field

  Explore the common themes of critical theory

Propose two (2) strategies that you as an instructor could leverage in order to encourage inclusiveness within particular educational context.

  What do the flood control officials feel is best solution

What do the Flood Control officials feel is the best solution to prepare for flooding? How much of this is due to development?

  Should fathers have as much say as mothers in deciding

Should fathers have as much say as mothers in deciding whether an abortion be performed? If yes, and if the mother and the father disagree on the decision.

  The positive purposes of arguments

What were the consequences of that approach?

  How do peers affect delinquency

How do peers affect delinquency? Do delinquents seek out antisocial and delinquent peers as friends or does having delinquent peers cause an individual to become delinquent?

  What contract administration issues lead to grievances

What contract administration issues lead to grievances. How and when would the issue of fair representation come into the process

  Post an abbreviated literature review on teen pregnancy

You will post an abbreviated literature review on Teen pregnancy - You want to be sure and include subheadings to identify the sections

  Instructor guidance and announcements

In addition, read Judgment under Uncertainty: Heuristics and Biases (Tversky and Kahneman, 1974). Finally, review Instructor Guidance and Announcements.

  Identify empirical referents of the concept

Select a nursing concept (be sure to use a nursing theory) and then provide a response to each one of the steps included in a concept analysis regarding your selected concept. This information does not have to be comprehensive but provides a foun..

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd