Aims:

1.       To allow students to explore in greater detail the learning outcome of the  module  relating  to  impairment  of assets  and  to  demonstrate  a detailed knowledge and understanding thereof.

2.       To assess students’ ability to

(i)       appropriately summarise and structure information              (ii)       identify relevant information from a given set of literature     (iii)      understand and argue the chosen relevant information, and (iv)      present it in an appropriate written form

3.       To develop or confirm students’ word-processing skills.

Assignment brief:

The business and operations of many entities have already been seriously affected by the rapid global spread of COVID-19 and related government actions. Unfortunately, many businesses will continue to be affected for some time. This has consequences for their value and the value of many of their commercial assets. In this volatile environment, any impairment of goodwill, intangible assets and other long-lived assets has the potential to materially reduce reported earnings.

You are required to critically review and discuss the importance and significance of ‘NZ IAS 36 – Impairment of Assets’ to any New Zealand or Australian public listed company of your choice that has been negatively affected by COVID-19.

You should address or incorporate, among others, the following matters  in your assignment;

-  literature  review  of  impairment  of  assets  during  times  of  crisis,  from academic publications and newspapers

- discussion of the nature of impairment review undertaken and reported by the  company  of  your  choice  and  the  impact  of  impairment  to  the  whole industry to which you company of choice belongs to.

-   your inputs on whether the company of choice has adequately dealt with impairment of assets in its financial statements

- your assessment of the challenges faced by the company of your choice in recognizing and disclosing information on impairment of assets in the financial statements

- your thoughts and reflections on the whole of issue of impairment of assets as a result of Covid-19

Your assignment should aim to provide readers with a broad and introductory review of this area covering, for example:

A   knowledge   of  essential   concepts   such   as   key   qualitative characteristics, etc.

A  knowledge  of  accounting  treatments  in  individual  accounting standards

A knowledge of implications of accounting treatments on financial statements

Your   own   understandings   of,   comments   on,   arguments   and contributions to the topic.

Any other important issues which you think should be addressed

Learning outcomes:

The assignment covers one of the module’s learning outcomes.

Further details:

This is a group assignment of around 3,000 words (limited between -10% - +10%).

Each group should consist of exactly five students.

Your assignment should be completed and submitted on 21st  October 2022. The soft copy of your report should  be submitted online via  Moodle.  Late submissions will not be accepted.

This assignment is marked out of a total of 100 marks and contributes 10% to the final assessment mark for this course.

Please note that the University policy on cheating collusion and plagiarism will be applied to this piece of work. Your Turnitin report should not show more than 20% of similarity with other published work.