Restructuring Provision and Accounting Standards: A Report

Running head: AUSTRALIAN AUDITING STANDARDS ANALYSIS
Australian Auditing Standards Analysis
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AUSTRALIAN AUDITING STANDARDS ANALYSIS1
Executive Summary
This report aims at shedding light on certain accounting standards relate to
intangible assets and restructuring provision. This report discusses about the
requirements of AASB 138
Intangible Assets related to the accounting of brands
and goodwill. Moreover, this report also analyses the principles of AASB 137
Provisions, Contingent Liabilities and Contingent Assets related to restructuring
provision.

AUSTRALIAN AUDITING STANDARDS ANALYSIS2
Table of Contents
Introduction........................................................................................................... 3
Accounting for Brands........................................................................................... 3
Brands Accounting.............................................................................................. 3
Difficulties for Standard Setters..........................................................................3
Accounting for Goodwill......................................................................................... 3
Requirement (a)................................................................................................. 3
Requirement (b)................................................................................................. 3
Accounting for Restructuring Provision..................................................................4
Requirement (a)................................................................................................. 4
Requirement (b)................................................................................................. 4
Requirement (c).................................................................................................. 4
Conclusion............................................................................................................. 4
References............................................................................................................. 5