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The Nature Of Mt Wellington

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I am honored to have opportunity to address my opinion about the nature of ‘Mt Wellington’ after delving the affairs from your letter. Before making any judgements, some problems are being worth paying closs attention to here, such as profitability of Mt Wellington, transfer of ownership. Enclosed with this letter is a detailed explaination in which you may find the constructive comments.

Relating to core issue, there are two scenarios need to be classified, which will result different conclusions:

In the first place, the present situation is some areas in Mt Wellington are privately owned by the Hobart and Glenorchy city councils, although the State Government has already introduced new laws during in the earlier period this year that …show more content…

Similarly, we could use the same standard to measure the other part in Mt Wellington. The rest area that no one has way to claim could not be addressed as asset. The reason is there is no entity to manage that area. According to the Australian Accounting Standard Board AASB138, it falsifies one of the essential characteristic of being asset, ‘asset must be control by the entity’. Hence, this area could not be accounted as asset. When we make an intensive study of this unowned area, it should be put into a category of ‘natural resource’ since it is out of management. According to Comstock (2016), ‘a natural resource is something that is not made by humans but is necessary or useful in their lives’. To some extent, the landscape, water resource and wild forest in this area have enriched the biodiversity and are helpful to the local environment construction. As local communities said, “any activity within Wellington Park has the potential to have an impact upon natural and cultural values, and the Council’s assets, within the reserve”. In fact, no one has the right to possess himself/herself of the unclaimed area.

At the moment, the whole Mt Wellington could not treated as an asset, even the current status is in good condition. However, there is another possibility that State Government or Commonweal would make Mt Wellington nationalized regardless of the approval and support from the Hobart and Glenorchy city councils. There is evidence that this

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