This assignment delves into key aspects of company accounting, focusing on fair value measurement and impairment testing of assets. The student's work addresses the application of IFRS 13 and AASB standards, specifically examining how companies should determine fair value, considering market participants and relevant factors. The assignment further explores depreciation methods, contrasting the historical cost model with fair value models and providing justifications for managerial preferences. Additionally, it covers impairment testing, explaining how companies assess and identify potential impairments, including the concept of cash-generating units and their application in determining asset values. The analysis includes examples related to the Saferide Bus Company, illustrating how cash flows are evaluated to determine impairment and the challenges of isolating cash flows for individual assets.