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Financial Accounting and Reporting

Executive Summary of Impairment Testing and Asset Values

The report summarized the key impairment issues that are faced during the financial statements calculations. AASB 136 accounting standard is used for the impairment of assets. There are various disclosure like amount recognized for losses and revalued loss are to be mentioned in the income statement of the company. AGL energy is taken under study for impairment of assets. The company follows the mandates of the standards appropriately. Also, there are certain complexities like tax rate etc. that arise during impairment. Accordingly the company directors need to review certain calculations like discount rate, disclosures etc. for the company to provide an appropriate view of the statements.

Table of contents

Introduction

Disclosure requirements as per AASB 136

Analysis of AGL for disclosures

Complexities and Key Iss....