Search for over 100,000 study notes and past assignments!
Download study resources by swapping your own or buying Exchange Credits.
ACFI3001 Major Assignment
19 Pages • Essays / Projects • Year: Pre-2018
This report provides critical evaluation of AASB 136 Impairment of Assets (“AASB 136”). Basically, the AASB136 Standard requires that an entity review an impairment loss and prescribes disclosures when an asset is described as impaired. This report gives a brief history to the AASB 136 Impairment of Assets as it firstly set up in July 2004. From that, AASB 136 has undergone several amendments on issues such as intangible assets and disclosure requirements. In the report, the evaluation was composed of the following two components: Normative Theory and Positive Theory. Normative Theory is to prescribe what should happen by making suggestions or recommendations in the standard. The Conceptual Framework with the view of finding threats and opportunities was used in the normative accounting theory part. Positive theory is used in our report to discovering threats and opportunities for AASB 136. There are three positive accounting theories related to AASB 136, which include stakeholder theory, agency theory and legitimacy theory with the view of finding strengths or weaknesses. Furthermore, evaluation of AASB 136 is composed of a general view of threats, opportunities, strengths and weakness revealed in the theoretical analysis of ASSB 136, showed an alignment of weaknesses and threats resulting in two problems in the application of AASB 136. Finally, it was recommended that annualized impairment be amended to the standard, as it would help to minimize the effects of these issues.
This document is 20 Exchange Credits
More about this document:
This document has been hand checked
Every document on Thinkswap has been meticulously hand checked to make sure it's correctly described and categorised. No wading through heaps of irrelevant content.
This is an Essay / Project
Essays / Projects are typically greater than 5 pages in length and are assessments that have been previously submitted by a student for academic grading.
What are Exchange Credits?
Exchange Credits represent the worth of each document on Thinkswap. In exchange for uploading documents you will receive credits. These can then be used to checkout other documents on Thinkswap.
We aren't happy till you're happy
Each document purchased on Thinkswap is covered by our Satisfaction Guarantee policy. If the document is not of an acceptable quality or the document was incorrectly described or categorised, Thinkswap will provide a full refund of Exchange Credits so you can purchase another document. For more information please click here.
Students are required to always deal ethically with work on Thinkswap
Studying from past student work is an amazing way to learn and research, however you must always act with academic integrity.
This document is the prior work of another student and has been made available to plagiarism detection tools. Do not copy from this work. Understand how you can responsibly use this work by visiting ‘Using Thinkswap resources correctly’.
Claim a Bounty
Similar documents to "ACFI3001 Major Assignment" avaliable on Thinkswap
Documents similar to "ACFI3001 Major Assignment" are suggested based on similar topic fingerprints from a variety of other Thinkswap Subjects