The Impact of Assets Impairment on Company Accounts

4687 Words Nov 24th, 2012 19 Pages
The Impact of Assets Impairment on Company Accounts

Assignment 1

ACCT 20054 – Company Accounting
Term 2, 2012

Prepared & Submitted by
Jobish Mathew
S0214315

Tutor: Davood Alizadeh
Due date: 24th August 2012
Submitted date: 24th August 2012

Executive Summary

The study ‘The Impact of Assets Impairment on Company Accounts’ presents the cotemporary issues facing by major five Australian companies Qantas, Ten Networks, Billabong, Bluescope steel and Harvey Norman. This research mainly deals with controversies surrounding the recent introduction and application of ‘fair value’ measurement system by the IASB and AASB. The author refers an article written by Adele Ferguson published in ‘The Age’ newspaper on 14th
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of O. S* (millions) | 252 | 253 | 253 | 254 | 254 | 254 | | M.C*(Millions) | $ 2205 | 2770 | 2211 | 2070 | 1527 | 349 | | % changes in M.C | -- | 25.62 | (20.18) | (6.38) | (26.23) | (77.14) | | B.V* (Millions) | $ 1176 | 1190 | 1217 | 1173 | 1196 | -- | | % changes in B.V | -- | 1.19 | 2.27 | (3.62) | 1.96 | -- | BLUESCOPE | S.P* | $ 2.53 | 3.11 | 2.10 | 2.25 | 1.21 | 0.405 | | No. of O. S* (millions) | 1823 | 1823 | 1823 | 1823 | 1842 | 1842 | | M.C*(Millions) | $ 4612 | 5670 | 3828 | 4102 | 2229 | 746 | | % changes in M.C | -- | 22.94 | (32.49) | 7.16 | (45.66) | (66.53) | | B.V* (Millions) | $5663 | 5607 | 5756 | 5507 | 4396 | -- | | % changes in B.V | -- | (0.99) | 2.66 | (4.33) | (20.17) | -- | HARVEYNORMAN | S.P* | $ 3.30 | 4.22 | 3.31 | 2.94 | 2.44 | 2.02 | | No. of O. S* (millions) | 1062 | 1062 | 1062 | 1062 | 1062 | 1062 | | M.C*(Millions) | $ 3505 | 4482 | 3515 | 3122 | 2644 | 2145 | | % changes in M.C | -- | 27.87 | (21.58) | (11.18) | (15.31) | (18.87) | | B.V* (Millions) | $2059 | 2152 | 2157 | 2189 | 2228 | -- | | % changes in B.V | -- | 4.47 | 0.23 | 1.48 | 1.78 | -- |

*M.C (Market Capitalisation) = Share Price × No. of Outstanding Shares
*S.P = Share price, *B.V = Book Value, *O.S = Outstanding Shares

*As on 17/08/12 – The author added
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