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HA 3011 The Advance Financial Accounting

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Advance Financial Accounting (HA 3011)

   

Added on  2020-05-28

HA 3011 The Advance Financial Accounting

   

Advance Financial Accounting (HA 3011)

   Added on 2020-05-28

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Running head: ADVANCE FINANCIAL ACCOUNTINGAdvance financial accountingName of the studentName of the universityAuthor note
HA 3011 The Advance Financial Accounting_1
1ADVANCE FINANCIAL ACCOUNTING Table of ContentsTask A........................................................................................................................................2Answer (i)...................................................................................................................................2Answer (ii).................................................................................................................................2Answer (iii)................................................................................................................................3Answer (iv).................................................................................................................................3Answer (v)..................................................................................................................................3Answer (vi).................................................................................................................................3Answer (vii)...............................................................................................................................4Answer (viii)..............................................................................................................................4Task B........................................................................................................................................5Answer (i)...................................................................................................................................5Answer (ii).................................................................................................................................5Answer (iii)................................................................................................................................5Answer (iv).................................................................................................................................6Answer (v)..................................................................................................................................6Reference....................................................................................................................................7
HA 3011 The Advance Financial Accounting_2
2ADVANCE FINANCIAL ACCOUNTING Task AAnswer (i)The various tangible as well as intangible assets were considered for the purpose ofcarrying out the impairment test by Data3 Limited (Data3 2018). The intangible assets were –GoodwillSoftware assetsCustomer relationshipThe tangible assets considered for impairment test are –Leasehold improvementsEquipment (Sooriyakumaran and Thirunavukkarasu 2013)The intangible asset like goodwill are not amortised but considered for the purpose ofimpairment test annually or more often if any indication exists that the asset may getimpaired.Answer (ii)For conducting the impairment test at the end of each period the company checkswhether any indication is there for impairment. If any indication is there, the companymeasures the recoverable amount of that asset. Further, if the recoverable amount for anyasset is not able to be determined or cannot be measured then the asset’s cash generatingunit’s value is determined (Picker et al. 2016).
HA 3011 The Advance Financial Accounting_3

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