Accounting Assignment Help

Apply accounting principles and standards when accounting for non-current assets, revenue and liabilities and recognise the judgements required in a range of diverse business contexts.
b) Differentiate between shares and debentures and apply appropriate accounting procedures. Accounting Assignment Help

a) Calculate the impairment loss as at 30 June 2020:
b) Prepare a table as provided below to allocate the above impairment loss:

This assessment will cover the learning objectives from the topics covered in weeks 3, 4, 5 and 6 and applying them to real cases. These include accounting for shares and debentures and accounting for non-current assets, including impairment and asset revaluation.

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Part A: This assessment is designed to demonstrate your understanding of the accounting process to account for the above topics.
Please use the supplied templates to design your answers in the correct General Journal format and combine all answers into one Assessment document covering all tasks. Please follow the submission instructions on Blackboard. Submit the assessment file in a Word or Pdf format including cover sheet. JPEG files or similar cannot be opened and will not be marked.

Part B: You will be required to prepare a short video (5 mins) addressing the specific questions provided. This is designed to access your understanding of the concepts you have applied in Part A and also demonstrate your communication skills to your audience. Please ensure that your presentation includes reference to relevant Australian Accounting Standards (AASB) and the Corporations Act, where relevant.


Part A
Question 1 Impairment of assets
I. Aero Ltd has determined that its aviation division is a cash–generating unit (CGU). Information as at 30th June 2020 is as follows:

a) Calculate the impairment loss as at 30 June 2020:
b) Prepare a table as provided below to allocate the above impairment loss: Accounting Assignment Help

Part B Video Presentation 
Technical accuracy of your presentation
Presentation skills (Refer marking Rubric on Blackboard)
Prepare a video presentation to address each of the following questions. You will be assessed on your technical understanding of each question and also your presentation skills. Please refer to the marking rubric which details the assessment criteria for the communication and presentation skills. You may use visual aids to support your presentation, however you must be seen at all times in front of the camera. Marks will not be awarded if you read directly from your notes.
Please introduce yourself and the purpose of your presentation. Speak slowly and clearly to address each of the following:

Issue 1:
You are the accountant for a small accounting firm, Zandy Pty Ltd. A client, Tom Joneshas just emailed you with great confusion over accounting for his non-current assets. He does not understand the difference between a revaluation decrement and an impairment loss and has asked why we have different names for the same process. Provide advice to Tom, with relevant references to the Australian Accounting standards in your answer.

Issue 2:
Jasper Ltd is a medium sized public company which operates within the manufacturing sector. The assets include a large number of non-current assets such as Plant and
Machinery items. The CFO currently prepares the annual financial statements using the Cost model however is considering changing to the Revaluation (fair value) method. In order to assist with his decision, he needs to know the impact that this change will have on the financial statements and reports. The company is in it’s growth stage and wants to continue attracting new investors with its impressive financial results. Accounting Assignment Help


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