7 Pages 1908 Words AASB 136 Impairment Of Assets

CO5122 Indivisible Assignment 25% weighting – Maximum engagement compute of 2500. You are an familiar representationant afloat control a newly controlmed publically listed concourse, Five Star Ltd. You are required to use the Australian Representationing Standards equivalents of the interpolitical representationing standards. The conduct of Five Star Ltd seeks your education in affinity to the contact of AASB 136 Frailty of Possessions. Required A. Write a announce to conduct, specifically clear-uping: 1. the end of the frailty ordeal control possessions 2. when to set-about an frailty ordeal 3. how the creature of kindliness achieve favor the frailty ordeal 4. the basic steps to be followed in useing the frailty ordeal control (a) indivisible possessions and (b) capital generating units 5. How to accompute control violations of Frailty losses. B. Conduct has to-boot requested that you clear-up, by illustration, how other companies are useing AASB 136. So excite to the aloft you are to-boot required to ponder the financial declarations of a announceing existence (BlueScope Steel Ltd) and manifest to conduct the chattels of frailty ordealing on these financial declarations. In doing this you scarcity to manifest to conduct in an appendix to the announce in A aloft, diversified aspects of the Annual announce from BlueScope Steel Ltd: 1. The mass account control possessions 2. What are the concourse’s possessions, including Property, establish and equipment and inappreciable possessions? Do they feel kindliness? 3. Feel any possessions been mixed? Is there an explication control this? 4. Has any violation of frailty losses occurred? 5. What is the chattels of asset frailty/reversals of asset frailty on the neutralize equivocation and the proceeds declaration? (You achieve scarcity to contemplate at appropriate notes to the representations.) When preparing your announce you should attribute to:  the financial declarations  disclosures academic journals (poverty of 2) textbooks (poverty of 3)

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