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Suggestions for Intangible Assets and Provisions, Contingent Liabilities and Contingent Assets

The assignment requires students to research a technical aspect of accounting and communicate professional advice to a client via a business letter.

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Added on  2023-06-07

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This article provides suggestions for treatment of improving the environmental reputation as goodwill and treatment of contingent liability for the guarantee provided for damage. It also explains the difference between contingent liability and provision.

Suggestions for Intangible Assets and Provisions, Contingent Liabilities and Contingent Assets

The assignment requires students to research a technical aspect of accounting and communicate professional advice to a client via a business letter.

   Added on 2023-06-07

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Running head: FINANCIAL ACCOUNTING II
Financial accounting II
Name of the student
Name of the university
Student ID
Author note
Suggestions for Intangible Assets and Provisions, Contingent Liabilities and Contingent Assets_1
FINANCIAL ACCOUNTING II 1
Table of Contents
Suggestions for 1st issue – Intangible assets...............................................................................4
Suggestions for 2nd issue – Provisions, contingent liabilities and contingent assets..................5
Reference....................................................................................................................................6
Suggestions for Intangible Assets and Provisions, Contingent Liabilities and Contingent Assets_2
FINANCIAL ACCOUNTING II 2
668 George Street,
Melbourne, VIC 3000
Telephone 28 8 3215 5000
www.mckenzieandassociate.com.au
08 September 2018
Mr. Con Pewter
The managing Director
Pewter Ltd.
Level 6, 510 King William Street,
Adelaide SA 5000
Dear Mr Pewter
First of all, I would like to thank you for the response provided by you through e-mail. As an
accountant of McKenzie and Associates, I would like to inform you that our manager Ms Mc
Kenzie requested me to reply the e-mail through letter. I would like to assure you that like the
previous issues this time also our company will provide you with the best possible solutions
for the issues highlighted by you. Further, it is assured that the solutions will be provided in
compliance with the requirement of Corporation Act 2001, IFRS and AASB. From your
communication it is seemed that the issues are related to –
AASB 138 - Intangible asset
AASB 137 – Provisions, Contingent liabilities and Contingent assets
Suggestions for Intangible Assets and Provisions, Contingent Liabilities and Contingent Assets_3

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