Impairment of asset under AASB 136

Running head: ACCOUNTING STANDARD AND REGULATION
Accounting standards and regulation
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2ACCOUNTING STANDARDS AND REGULATION
Executive summary
The main objective of this report is to provide a clear concept regarding the AASB 136 on
Impairment of asset. The report will mainly focus on the Myer Holdings Ltd, an ASX listed
entity in Australia. The report will take into consideration the procedure f impairment,
evidence for impairment, information valid for successful test of impairment and the
management’s flexibility regarding the impairment test approach for the above mentioned
entity.

3ACCOUNTING STANDARDS AND REGULATION
Table of Contents
ASIC Media release 17 -162......................................................................................................4
a. Evident of impairment with regard to Myer Holdings Ltd.................................................5
b. Process of determining impairment....................................................................................5
c. Information relating to determination of impairment.........................................................6
d. Flexibility Myer Holding Limited management for determining impairment...................7
Reference:..................................................................................................................................9