ACCG8123 - Different Types of Accounting Theory Report Writing - Accounting and Finance Assignment Help

Assignment Task

Based on the Board's decision, the CFO asks you to draft a business research report addressed to the Board of Directors on the following:

a. Explain the potential role that different types of accounting theory (i.e., normative and positive accounting theories) play in developing consistent accounting principles. (Some research articles are listed on next page for your reference and you may further do your own research).
 

b. Provide a detailed explanation of the impairment testing made by your company in the year ended 30 June 2019. Your explanation should include a discussion of

i. the asset/s that were subject to impairment testing;
ii. the type of estimations required to record the impairment;
iii. the amount of the impairment write-down, if any; and
iv. relevant disclosures about impairment testing in the 30 June 2019 financial report.
 

c. Based on your findings in part b, critically discuss and recommend how your chosen company can enhance the treatments and disclosures for impairment for the year ended 30 June 2020 so that your company could provide clear disclosure about the adverse impacts on the company from the COVID- 19 pandemic.

d. Based on your findings in part c, discuss how the treatments and disclosures about impairment suggested by you for the year ended 30 June 2020 meet the fundamental characteristics of financial reporting as per the Conceptual Framework?

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