This report provides an executive summary, introduction, task analysis, recommendations, and conclusion regarding a financial accounting case study of West Ltd, a company involved in the sale of fish products. The report analyzes the application of accounting standards, specifically AASB 138 (Intangible Assets) and AASB 136 (Impairment of Assets), in the context of West Ltd's operations, including its branding strategies and the acquisition of Fishy Tales Limited. The task involves evaluating the marketing manager's recommendations regarding the capitalization of repair expenses for the Steve Irwin ship. The report also discusses the implications of goodwill recognition, impairment testing, and the appropriate treatment of costs related to the company's brands. Based on the analysis, the report recommends appropriate accounting treatments and provides insights into the financial reporting practices of West Ltd. The report highlights the importance of compliance with accounting standards for credible financial reporting and building investor trust.