Impairment Testing of Assets in Myer Holding Ltd

impairment test
Financial accounting
Impairment testing
Name of the author
University Name-

EXECUTIVE SUMMARY
With the ramified business changes, every company needs to establish proper
harmonization in it international and domestic accounting frameworks. Nowadays, every
company is dealing with an issue of asset impairment that becomes a major issue for a company
when they want to keep the true and fair view of the recorded assets to its stakeholders. This
report focuses on the company named Myer Holding ltd which is a departmental structural
company worked as store chains.

Table of Contents
EXECUTIVE SUMMARY.........................................................................................................................1
INTRODUCTION.......................................................................................................................................2
ANNOUNCEMENT OF ASIC REGARDING IMPAIRMENT.................................................................2
EVIDENCES THAT STATES THAT IMPAIRMENT TESTING OF ASSETS IS NECESSARY............3
THE PROCESS REQUIRED TO BE ADDRESSED IN DETERMINING ANY ASSET IMPAIRMENTS
THAT MIGHT BE NECESSARY..............................................................................................................5
INFORMATION REQUIRED TO DETERMINE THE IMPAIRMENT OF ASSETS...............................6
MANAGEMENT'S FLEXIBILITY WHEN IT COMES TO IMPAIRMENT DECISION.........................7
Conclusion...................................................................................................................................................7
References...................................................................................................................................................8