Accounting Standards and Practice for Property, Plant and Equipment in Afterpaytouch

Running head: ACCOUNTING STANDARDS AND PRACTICE
Accounting Standards and Practice
Name of the Student
Name of the University
Author’s Note

1ACCOUNTING STANDARDS AND PRACTICE
Table of Contents
Executive Summary...................................................................................................................2
Introduction................................................................................................................................3
a) Applied Professional Judgements in PPE..............................................................................3
b) Appropriateness of Applied Professional Judgments............................................................3
c) Reflection of Qualitative Characteristics of Financial Information.......................................4
Conclusion..................................................................................................................................5
References..................................................................................................................................6

2ACCOUNTING STANDARDS AND PRACTICE
Executive Summary
This study intends at analysing the accounting for Property, Plant and Equipment (PPE) in
one of the ASX listed companies named Afterpaytouch. The findings of the report shows that
Afterpaytouch has applied the professional judgements related to PPE accounting in the most
appropriate manner and this has resemblance with other companies in the same industry like
Bravura Solutions. The findings also show that reasonableness is there in the accounting
treatment of PPE in Afterpaytouch since the rules and regulations of AASB 116 have been
followed by the company. The report further finds that appropriate application and disclosure
of PPE related information in Afterpaytouch reflects all the qualitative characteristics of
financial information.