Get Online Corporate Accounting Assignment Help
Get corporate assignment help in Australia from our corporate accounting assignment experts. Corporate accounting assignments are something one cannot escape from. It is an integral part of the coursework. Corporate accounting is certainly not an easy subject. It often becomes a challenge, to manage your studies, do a part-time job as well as complete assignments. It would be a wise decision to take corporate accounting assignment writing services in Australia in such a scenario.
Take a look at our sample question which has been solved by one of our corporate accounting assignment expert.
1000 word short essay about the following:
At 30 June 2014, Longreach Ltd is considering undertaking an impairment test. Having only recently adopted the international accounting standards, the management of Longreach Ltd seeks your advice in relation to this test under AASB 136 /impairment of Assets.
Write a report to management, specifically explaining:
- The purpose of the impairment test
- How the existence of goodwill will affect the impairment test
- The basic steps to be followed in applying the impairment test.
Answer: (Please note, this is only a part of the answer and not the entire answer itself)
Report on Impairment of Assets When the recoverable value of an asset is less than the carrying value then the asset is considered as impaired. Based on the accounting principle of prudence or onservatism it is important that the entity should provide for all possible losses but ignore any possible gains. Therefore, the assets that are impaired have to be recorded on their recoverable mount in the financial statements of the entity. The difference between the carrying amount of an asset and recoverable amount is the impairment loss.
The impairment test is conducted to ensure that the assets are not overstated in the financial statements of the entity. If the impairment test is not conducted some of the assets might remain erstated in the books that would lead to overstated net worth of the company. Therefore, to ensure that the books of accounts reflect true and fair position the impairment test is conducted on the assets.
The impairment test is conducted on the assets whose value might fall with the passage of time like the fixed assets, intangible assets. It is not conducted on the assets that are generally carried on their fair value or have other accounting standards for governing their carrying value like inventories, deferred tax assets and the assets held for sale
The assets are carried at historical costs less accumulated depreciation or amortization based upon the principle of accountancy. However, in some instances the value of the assets decrease in greater proportion as compared to their depreciation rate. Therefore, the impairment test is conducted to ensure that these assets are carried on their recoverable amount.
Paragraph 10 of AASB 136 states that the entity shall:-
- Test annually for the impairment of the intangible assets with indefinite lives. The test can be conducted at any time during the year provided that it is conducted at the same time every year. Different intangible assets may have different timings during which the impairment test is performed on them. However, in the case of initial recognition of an intangible asset it is important that the asset is tested for impairment before the end of the financial year (AASB, 2009).
- Also conduct annual impairment test on goodwill that has been acquired as a result of business combination (AASB, 2009). Paragraph 11 states that the risk of uncertainty to generate future economic benefits for an intangible asset is higher if it is not available for use. Therefore, the impairment test has to be performed annually on the intangible asset that is not available for use.
Impairment Test Steps In order to perform impairment test on an asset it is important that there is an indication of impairment of the asset. The indicators are classified into two groups- internal and external (Holmes, 2008).
The internal sources include:-
- Obsolescence or any physical damage to the asset,
- Significant events that have place and adverse impact on the use of the asset have taken place or are expected in near future like the asset becoming idle,
- There are evidences which indicate that the economic performance of the asset is not able to meet the expected levels.
Corporate Accounting Assignment Help in Australia by My Assignment Services
At My Assignment Services, our corporate accounting assignment experts provide top-quality assignments which are written from scratch. Our experts are Ph.D. scholars who have vast subject knowledge as well as years of experience. They know exactly the requirements of an outstanding assignment.
When you need corporate accounting assignment writing services in Australia My Assignment Services is the place to come to. Our experts understand the importance of deadlines and ensure that every assignment is delivered on-time. If by chance, the student would like further changes to the assignment, we also provide revision facilities.
How My Assignment Services Works?
Our process is really simple. All you have to do is, contact our customer care team with your assignment related requirements. They will get back to you with a reasonable quote. Once you make the payment, our experts start working on your assignment immediately.
Why choose My Assignment Services
When you require corporate accounting assignment help, we are the ones you should come to. Here’s why:
- We ensure to adhere to the university guidelines.
- We make sure that, we deliver each assignment on-time.
- We also provide the assignment in the format required by the student. For example, word format, PDF, etc. This way we make it a hassle-free process for the student.
- Our corporate accounting assignment experts make sure, they stick to the prescribed text and also refer to the recommended readings before starting work on your assignment.
- We also following subject specific terms. For example, in corporate accounting assignment, we follow the prescribed accounting principles like, AASB 112, CF/SAC 1&2 etc.
- We go by the saying, ‘Be better than the best’. The basic requirement to pass any subject would be a minimum of 50% of the total available subject marks. But, by availing our corporate accounting assignment writing service in Australia you can be rest assured to gain nothing but high distinction.
My Assignment Services – Affordable and Secure
We understand the financial issues a student has to deal with and our corporate accounting assignment help from us is one of the most affordable service providers in the industry. Also, making a payment on My Assignment Services is going to be hassle free and safe. You can pay via PayPal – the most credible online payment system.
Firstly, you have to click on the View and Pay Invoice link in the mail. A new window would appear with the PayPal Invoice. Click on the “Pay Invoice” Button. Either you can make payment through your existing PayPal account (Pay with my PayPal account) or “Pay with your Debit/Credit Card”. If you already have an account with PayPal linked to your debit/credit card, you can login and make the payment.
If you do not have an account with PayPal, you can select the other option, “Pay with your Debit/Credit Card” by filling the form with the card details and then click on “Continue”. Review the payment details and to edit any of the information entered, click on the “Change” button. When you are satisfied that your credit or debit card information is accurate, click on the “Pay Now“ button to finalize your payment. In short,
- PayPal is very user-friendly.
- Through PayPal, you are 100% guaranteed against fraud and unauthorized payments.
- PayPal can be used by both members and non-members as well, making it versatile.
- You get a confirmation mail on each step. Be it when the invoice is raised till the time the payment process is completed. This feature is available to both members and non-members.
- Every step is documented. Hence, making it safe and secure. Hence, giving you one more reason to avail our services at My Assignment Services.
So hurry! Contact the corporate accounting assignment experts now at +61 452 660 264 or drop an email at email@example.com or fill our online inquiry form!