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The company is OrotonGroup Limitedon the ASX liste...

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The company is OrotonGroup Limitedon the ASX listed. According to 2011-2010 annual report. http://www.orotongroup.com/index.php/investors-annual-reports Objective: Critically evaluate and apply the requirements of the following: AASB 3 Business Combinations AASB 138 Intangible Assets AASB 136 Impairment of Assets AASB 123 Borrowing Costs AASB 137 Provisions, Contingent Liabilities and Contingent Assets AASB 110 Events after the Reporting Period In addition to the accounting standards outlined above, read the textbook material from Weeks 1 to 8. Required: Prepare a report incorporating the following points (2000 words). The report should outline each of the main points below. Please do not copy paragraphs from the standards as you will not be awarded any mark to do so. Instead you are required to quote the standard and the specific paragraph number in your report as demonstrated in the lectures. ? AASB 3 Business Combinations: Review the business combinations for 2010 and 2011. Explain how the company funded these business acquisitions and whether they complied with the requirements of AASB 3, in particular paragraphs 32?33 and para 37 and disclosure requirements paragraphs 59?63. (3 marks) ? AASB 138 Intangible Assets, AASB 136 Impairment of Assets and AASB 123 Borrowing Costs: Identify the intangible assets and their balances at the end of 2010 and 2011. Does the disclosure and the measurement criteria used to evaluate the amortisation or impairment of these intangible assets comply with the requirements of AASB 136 Impairment and AASB 123 Borrowing Costs? Why or why not? (5 marks) ? AASB 137 Provisions, Contingent Liabilities and Contingent Assets: What type of contingent liabilities and provisions exist in the financial report for 2011? Has this changed since reporting date and are there any new contingent liabilities which the company may need to recognise in the coming year ending 2012? (Hint: You may need to refer to the financial press, ASX company announcements and the company?s media section of their website to see if any further news has been disclosed). Extra effort should not be avoided. (3 marks) ? AASB 110 Events after the Reporting Period: Briefly outline any after balance date events disclosed in the 2011 annual report? Discuss what has happened with these events since the 2011 report was issued. (Hint: You may also need to refer to the ASX company announcements, the financial press and the company?s media section of their website to see if any further news has been disclosed). (3 marks) ? Executive Summary, table of contents, introduction and conclusion. (3 marks) ? Referencing, spelling and grammar. (3 marks)

 

Paper#7614 | Written in 18-Jul-2015

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