TOPIC 4: NZ IAS 36 Impairment of Assets
Ensures that assets are carried at no more than their recoverable amount.
If CA > RA (through the use or the sale of the asset) Then the asset is described as impaired. Need to
recognize an impairment loss.
NZ IAS 36 Financial Instruments: Debentures
Debenture = Written promise (or a legal contract) to pay a principal amount at a specified time in
the future and interest at a specified rate.
Borrower = Entity issuing the debenture (NCL) to the entity issuing
MODULE 3 ACCOUNTING FOR INCOME TAX
QUESTION 2: Accounting for income tax (2015 S1)
Badger Limited has partly completed some of the worksheets to calculate the tax payable and deferred tax
for the year ended 30 June 2014. The following information is also
MODULE 5 ACCOUNTING FOR FINANCIAL INSTRUMENTS
QUESTION 4: Accounting for financial instruments (2015 S1)
An importer is a New Zealand listed company and the New Zealand dollar is its functional currency. It
imports goods for sale from a number of countrie
MODULE 4 ACC FOR FOREIGN CURRENCY TRANSLATION
QUESTION 3: Accounting for foreign currency translation (2015 S1)
Wool Blend Limited is a New Zealand based company. They set up a subsidiary in Australia some years ago,
called Wool Blend Australia. You have
MODULE 2 THE THEORY OF ACCOUNTING CHOICES
QUESTION 1: The theory of accounting choices (2015 S1)
Explain why a firms manager has incentives to make both income increasing and income decreasing
accounting policy choices when he/she is remunerated using a c