Part 1- Introduction The report contains the...
HA3011 Advanced Financial Accounting Paper Editing Services
There are valuable information and knowledge for the students who are studying Advanced Financial Accounting.
The total value of this assessment is 20%. This assessment has 2 parts which are:
Assessment task part A
This assessment contains 10 marks.
In the file “Find Your Company” you will the listed company that you have been provided for this course. Complete this assessment task for the company you have been provided. It is very important to use the listed company otherwise your assignment will not be marked if you use a different company.
Go to the website of your company, by clicking on the URL next to your company in the list of companies in the file “Your Company”. Then go to Investor Relations section of the website. This section may called, “Investors”, “Shareholder Information” or similar name.
Please read the relevant footnotes of your firm’s financial statements carefully and include information from these footnotes in your answer.
Within your firm’s latest annual report
(i) From your firm’s annual report find out the asset/s that your firm has tested for impairment.
(ii) How did your firm conduct the impairment testing?
(iii)Has your firm recorded any impairment expenditures during the period?
(iv) Identify the key estimates and assumptions used by your firm in conducting the impairment testing.
(v) Do you find any sort of subjectivity involved in the impairment testing process? How can this subjectivity influence the outcome of the impairment testing?
(vi)What do you find interesting, confusing, surprising or difficult to understand about the impairment testing?
(vii) What new insights, if any, have you gained about how companies conduct impairment testing?
(viii) Based on your assignment, comment on the “fair value measurement”.
Assessment task part B
This assessment contains 10 marks.
To complete this assessment, you will provide a case study of IASB or another similar organization.
You will find an actual case study in your assignments. We provide this case study for reference purpose only.
You need to answer the following questions:
1. Explain why the chairperson of the IASB believes that the former accounting standard for leases did ‘not reflect economic reality’?
2. Explain the reason why, under the former accounting standard, reporting entities’ ‘off-balance sheet lease liabilities were up to 66 times greater than the debt reported on their balance sheet’.
3. Why does the Chairperson of the IASB argue that under the former accounting standard for leases there was ‘no level playing field’ between some airlines companies?
4. Why do you think the Chairperson of the IASB said that the new accounting standard for leases ‘will not be popular with everyone’? What would cause this unpopularity?
5. What are some of the possible reasons why the chairperson of the IASB would say “the new visibility of all leases will lead to better-informed investment decisions by investors and to more balanced lease versus buy decisions by management?
Challenges face by students
Students may face several problems while attempting these accounting assessments such as complex process, accounting standard, making references help and guidance in their assessments from our experienced and professional accounting experts, students can achieve best grades and excel their academic career.