This presentation discusses the provisions of AASB 138 and AASB 136 in relation to intangible assets and impairment of assets. It covers the definition of intangible assets, accounting treatment for acquired patents, and the concept of asset impairment. The presentation concludes with recommendations for best practices.

Assessment 2 Information- Individual Assignment

Prepare Financial Statements and related accounting entries for incorporated entities. Apply accounting principles and standards when accounting for non-current assets. Develop information gathering (research) and communication strategies to enable the provision of professional advice to a client, via a business letter and video presentation.

Learn about AASB 138 and AASB 136, covering intangible assets, acquired patents, and asset impairment, with recommendations for best practices.

"Exploring AASB 138 and AASB 136 Accounting Standards: A Deep Dive into the Guidelines for Int

Accounting Standards AASB 138 and AASB 136: Intangible Assets and Impairment of Assets

This document discusses the provisions of AASB 138 for intangible assets and appropriate accounting procedures for accounting issues related to patents. It also addresses the concern of factory machines becoming obsolete and the implications of depreciation charges. The recommendations provided are in line with accounting standards and the Corporations Act 2001.

Accounting of Intangible Assets and Treatment of Obsolete Factory Machines

FINANCIAL ACCOUNTING FINANCIAL ACCOUNTING 2 2 FINANCIAL ACCOUNTING FINANCIAL ACCOUNTING Author’s Note: Answer to Question VI 2 Introduction to AASB 138 “Intangible Assets” 2 Recognition Criteria 3 Disclosures 4 Limitation of AASB 138 4 Reference 6 Answer to Question VI Introduction to AASB 138 “Intangible Assets” Intangible assets are assets which assets which are not physical in nature. As per the standard issued by AASB 138 which is on Intangible Assets,

Answer to Question VI Introduction to AASB 138

This article discusses the reversal of impairment loss for goodwill and its treatment in the profit and loss account of a firm. It also covers the mandatory requirements for impairment loss reversal under AASB 136 and the impact of goodwill acquisition on impairment testing of cash generating unit.

Corporate Accounting and Reporting

COMPANY ACCOUNTING COMPANY ACCOUNTING 6 6 COMPANY ACCOUNTING Company Accounting Authors Note: Contents Part 1: 2 Part 2: 3 References: 5 Part 1: Australian Accounting Standards Board (AASB) has issued mandatory accounting standards (AASBs) to be followed and complied with the by Australian entities in preparation and presentation of financial statements of these entities. However, an entity instead of providing for annual amortization against the value of intangible asset may decide to conduct periodical impairment test of such asset to provide for impairment loss

Accounting Standards Board (AASB): Preparation and Presentation of Financial Statements

Assignment

This article discusses the impairment of assets in the context of Ansell Limited and AASB 136. It covers the objectives of AASB 136, indicators of impairment, relevant disclosures, complexities and key issues involved in impairment, and disclosure requirements for impairment as per AASB 136. The article also discusses the main objectives of General Purpose Financial Reporting and concludes with a recommendation.

Accounting Standards AASB 138 and AASB 136: Intangible Assets and Impairment of Assets

End of preview

Accounting of Intangible Assets and Treatment of Obsolete Factory Machines

Answer to Question VI Introduction to AASB 138

Corporate Accounting and Reporting

Accounting Standards Board (AASB): Preparation and Presentation of Financial Statements

Impairment of Assets

Accounting Standard for Intangible Assets - Assignment

Accounting Standards AASB 138 and AASB 136: Intangible Assets and Impairment of Assets

End of preview

Accounting of Intangible Assets and Treatment of Obsolete Factory Machineslg...

Answer to Question VI Introduction to AASB 138lg...

Corporate Accounting and Reportinglg...

Accounting Standards Board (AASB): Preparation and Presentation of Financial Statementslg...

Impairment of Assetslg...

Accounting Standard for Intangible Assets - Assignmentlg...

Accounting of Intangible Assets and Treatment of Obsolete Factory Machines

Answer to Question VI Introduction to AASB 138

Corporate Accounting and Reporting

Accounting Standards Board (AASB): Preparation and Presentation of Financial Statements

Impairment of Assets

Accounting Standard for Intangible Assets - Assignment