Corporate Accounting Assignment Help in Australia


As students of corporate accounting, you must be knowing that, corporate accounting deals with preparing account of corporate firms, analyzing and interpreting companies' financial statements etc.

While pursuing a course in the subject of corporate accounting, lengthy sums and assignments is one thing, that students cannot escape from. It requires students to devote lot of time and effort. A good alternative to this would be to take corporate accounting assignment help from corporate accounting assignment experts.

Take a look at the following sample question which shows how professional our corporate accounting assignment writing service in Australia are:

Question:

This assignment has 2 parts, 1000 + 10% word theory interpretation essay and a response to a practical application of the theory.

Part A:

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 /mpairment of Assets.

Required

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.

Part B:

Crossbow Ltd iS an entity that specialises in the manufacture of leather footwear for women. It has aggressively undertaken a strategy of buying out other companies that had competing products. These companies were liquidated and the assets and liabilities brought into Crossbow Ltd.

At 30 June 2015, Crossbow Ltd reported the following assets in its statement of financial position:

Land $200 000

Inventory products 180 000

Brand _Crossbow Shoes' 160 000

Shoe factory 700 000

Machinery for manufacturing shoes 400 000

Goodwill on acquisition of competing companies 40 000

Because of the competition from overseas as customers pursue a strategy of buying online rather than visit Crossbow Ltd's stores, Crossbow Ltd assessed its impairment position at 30 June 2015. The indicators suggested that an impairment loss was probable. Crossbow Ltd calculated a recoverable amount of its company of $1 420 000. The fair value less costs of disposal of the land was $171 000.

Required

Prepare the journal entry(ies) for any impairment loss occurring at 30 Jun 2015

Answer: (Please note, this is not the entire answer, but only a part of the answer)

Part A

Impairment of Assets

As per Para 8 when the carrying value of an asset is greater than the recoverable value then the asset is considered as impaired. The recoverable amount is the amount that can be recovered through sale or usage of the asset. The standard requires the entities to recognize the asset at its recoverable amount in the financial statements and the impairment loss is also recognized. The standard also prescribes about the circumstances under which the impairment loss might be reversed and the procedures and disclosures that would be required for reversing such impairment loss. The standard applies to all the classes of asset except the following which are covered by another standard:-

  • The construction contracts assets,
  • Deferred tax assets,
  • Inventories,
  • The assets that arise from employee benefits,
  • Financial assets that are covered under financial instruments,
  • Non-current assets that are held for sale or are from discontinued business operations,
  • Assets arising from contractual rights of insurer under the insurance contracts,
  • Investment property that has been measured at fair value,
  • Biological assets that are related to agricultural activity.

Part B

In the books of Crossbow Ltd. Journal

Particulars Debit Credit
Impairment Loss Debit 260000 -

Career Paths

Our experts have listed out a few potential careers:

  • staff accountant
  • senior accountant
  • accounting supervisor
  • accounting manager
  • assistant controller
  • divisional controller (or controller for a subsidiary)
  • corporate controller (sometimes accompanied by a VP title)
  • chief accounting officer
  • chief financial officer

Job Titles

There are various job titles like:

  • Corporate Senior Accountant
  • Senior Corporate Tax Accountant
  • Interim Senior Accountant etc

TutorVersal Australia

As you can see, corporate and personal finance assignment help in Australia is the need of the hour. It will help students spend more time on other subjects, enjoy their leisure time etc. By availing corporate accounting assignment writing service in Australia, you will be able to get quality assignments. Your assignment will get a fresh, professional look. At TutorVersal, our corporate accounting assignment experts provide content which is error-free and free from plagiarism. This is because, we write every assignment from scratch after which every assignment must go through our ‘Quality Assurance Team’ who check for the best quality.

Another exclusive feature of TutorVersal is that, the experts offer live online one to one tutoring sessions and also are available for a direct phone conversation. This will enable students to get their doubts or queries cleared regarding their assignments and the subject too.

At TutorVersal, we provide the best corporate accounting assignment help. Our experts understand the importance of time and hence, deliver every assignment within the given deadline.

We are the best corporate and personal finance assignment help in Australia. Our corporate accounting assignment experts are Ph.D. scholars who have in-depth knowledge of the subject.

To make it more convenient for students to avail our quality services, we offer various affordable and flexible payment options. You can choose to pay through credit card, debit card , net banking or PayPal.

We also have a friendly customer care team in place, who are available 24/7 to help you with all your assignment queries.

Our Process – Very Simple

Contact Us!

Call us at +61 426 106 697 or drop an email at info@tutorversal.com or fill our online inquiry form!
Hurry!

97 out of 100 students refer us to their friends

Over 2000 experts in different subject areas

Offering 100% money back guarantee

95% of our submissions score above high-distinction

Our Ten Point Satisfaction Matrix

Compare our Service with Other Providers

See what other students are saying about us



Need Help?