Executive summary Recently, importance of intangible assets for a reporting entity has been increasing continuously. This report will discuss intangible assets with indefinite or infinite useful life and research and development expenditure in SEEK Ltd annual report 2014. This report will state the background of SEEK Ltd and the increasing importance of intangible assets. Furthermore, the disclosure of intangible assets and research and development expenditure will be revealed. Moreover, this report will critically evaluate whether the disclosures SEEK has made are in accordance with requirements of intangible assets’ segment in AASB 138. Consequently, this report will summary the findings and states the basic recommendation. 1. Introduction 1.1 Background SEEK Ltd is a diverse group of companies with over 17 years of operation experience having a common purpose to assist those who cherish their dreams and help them looking for better working circumstance and experience as well as support organisations succeed. Furthermore, SEEK learning service offers jobseekers appropriate and trusted advices of jobs related to career and education. SEEK’s employment marketplaces are concentrated on not only contributing the matching within jobseekers and employment opportunities but also helping hirers find needed workers. There are over 3 million job opportunities available in the employment marketplaces. Moreover, SEEK have already helped over 55,000 students receive appropriate
Marketing. Because of the large number of suppliers selling similar products, apparel-retail firms must stimulate demand with attractive store layouts, colorful product offerings, and various sales promotions.
The FASB staff indicated that EAs are finite-lived intangible assets based on expected use by the reporting entity. At present, the Company also records the current EAs as intangible assets. However, the SEC staff
With the assistance of our community partners, who specialize in job placement, we have already recruited, train, and place many individuals in productive industry recognized positions such as: Janitorial/ (EVS), Certified Nursing Assistants (C.N.A), Hospitality/ Customer Service, and more. Our goal is to improve our placement and retention rate by removing barriers and adding additional support such as, implementing the case management approach which will tend to each case according to the individual need, expanding hours, increasing class size, and adding more access to child
Career and technical schools are educational facilities that allow students to explore a specific career or field that they are interested in. They offer approximately sixteen different career and technical choices and over 70 different sub-careers ranging from Education and Training, Government and Public Administration, Manufacturing, Information Technology, Finance, Science Technology, Engineering and Mathematics to Transportation, Distribution and Logistics plus other career fields of interest that appeal to the students. The Career and Technical Education Schools are able to fulfill the needs of employers who are looking for specific criteria when hiring a new employee to fill an available position within their company. () Since the students
Return to Work - provides individualized job search and placement, resource connections to employment and training opportunities and assistance with overcoming barriers to employment
Job seeker file notes and ESS Diary Appointment information indicated that employment consultants endeavour to contact job seekers to meet the minimum contact requirements. File notes also indicated that staff provided individualised case management focusing on building a close working relationship with the
Intangible assets are one of the most significant items in Myers financial statement. It consists of goodwill, brand names and trademarks, software and leases. AASB 136 Impairment of Assets requires Goodwill and some of the brand names that are indefinite useful life to test for the impairment. In Myer, there is no impairment loss. Furthermore, the accumulated amortisations of the other intangible assets are shown in the table X have a total value of $73585 thousand. According to AASB 117 Leases, the total rentals leases over the leases term are being expensed on a straight-line basis. In contrast, Myer’s competitor David Jones has only two intangible assets goodwill and software. The accumulated amortisation for software is $28808 thousand which is shown in the table X and it is the total value of accumulated amortisation.
As the business environment grows and companies find new ways to expand into their respective - or even new – markets, it is important that reporting standards stay up to date with changes and continue to assist companies in providing their users with useful accounting information. Information is labelled as being useful when it meets the
The current assets are those which are readily convertible into cash and cash equivalents due to their highly liquid nature and also form part of working capital of the company’s operations. However, the long term assets in contrast are not liquid because since they have a useful life of more than a year and hence their full value cannot be easily realized within
The objective of AASB 116 is to stipulate the accounting treatment for property, plant and equipment, make user can understand information about an entity’s investment in its property, plant and equipment, and the changes in entity’s investment. The main issue for property, plant and equipment in accounting are the recognition of relationship between assets, the determination of their carrying amounts, the depreciation charges and impairment losses. AASB 116 required the entity disclose it’s information of gross carrying amount, depreciation method, depreciation rate, useful lives of PPE, accumulated depreciation and reconciliation of carrying amount at beginning of the reporting period and at end of the reporting period.
Job placement – working with employers to match individuals with the right job for their interest and skill level,
In the past few weeks, Wanted Technologies just announced the release of its Analytic Connect-or, an innovative and simple tool to integrate applicant tracking system and Wanted data (Lom-bardi). This online platform will allow HR professionals and recruiters to access the company’s global hiring demand and supply information directly from their applicant tracking system via a browser plug-in. By doing this, companies will able to accelerate time-to-hire and lower cost-per-hire through more efficient business processes. With a 66% increase in revenue in its previous quarter this year, this is a another step-up for the company proving that it is a leader in this emerging market and it strives to delight its clients by continuously delivering innovative prod-ucts and services.
AASB 138 defines intangible assets as “identifiable non-monetary assets without physical substance”. Such assets include but are not limited to goodwill, trademarks, patents and research and development. AASB 138 Intangible Assets has been implemented to prescribe the accounting treatment for intangible assets that have not been specifically dealt with in any other standard. Therefore, this standard only applies to intangible assets that have not been previously dealt with. Furthermore, it can be established that this standard is an example of normative accounting theories because the standard prescribes what should be done, rather than predicts what people may do. According to AASB 138 Intangible Assets, in order for an asset to be recognised in the financial statements it must meet specific criteria. The required criterion states that the asset must be identifiable, the entity has control of the asset, future economic benefits are probable and the cost of the asset can be measured reliably.
We estimate demand for jobs that are located in block group j from job seekers in block group k. Potential job seekers are defined as persons 18-64 years old.
The primary requirement of integrated reporting is treat value as beyond financial terms - a non-current overdue development offer that approximates 80% of organization is typically in intangible assets. Unlikely methods of long term success that connecting firm relationships with stakeholders, building a base of loyal customers and dealing with environmental risk, etc., integrated reporting keeps analyzing non-current strategy and predicting documents, including strategy, the environment in which it would deliver and how the organization has and will. The International Integrated Reporting Framework acknowledges that