Financial Accounting Asset Impairment Assignment Homework Help
- November 14, 2017
- Posted by:
- Category: Accounting QA
Best UK USA UAE Australia Canada China Financial Accounting Asset Impairment Assignment Homework Help Service Online
You are a audit partner with Feeble and Stressed CPAs. One of your audit clients is Greasy Oil, Inc. The company is a public company that has been in existence for over 40 years. It has diversified investments which mostly relate to the petroleum industry. The company has experienced slow but constant growth through internal expansion and acquisitions. You have been the partner in charge of their audit for three years. The company’s CEO, Ben O. Lee, is the son of the founder and has held the position for a little over ten years. He was in college for two years before he dropped out and was then (somehow) employed by the company. He has never had an accounting course and he usually cusses those “damn stupid accounting rules.” He is an intense businessman and has done an admirable job running the company. He understands the petroleum industry. You ran into Ben at a Birthday party for a mutual friend and while you were waiting for drink refills. He said “We are going through preparation of our year-end financials and my accounting guys discussed with me some of the problems they are having regarding asset impairments. I don’t understand why we have to go through this process every year when the company is profitable, but they said it was required. I told them I was expecting to see you here and that if they had specific questions they should write them down and I would pass them on to you. You know me, I like to mix business and pleasure! Here is an envelope with their questions. We discussed these and I, myself, am curious about what the answers might be. Would you please write me a letter providing answers to the questions and please include specific references to those damn GAAP rules so my guys can read up on them? ” You said you would be happy to address their concerns and that you would have your response to them in a couple of days. He said “Great, I’ll look forward to it! I need to get this glass of wine to my wife. I hope you are enjoying the evening.” The next morning you open the envelope and it lists the following items
We have some questions relating to the specifics on how an impairment test is conducted
1.We have a new situation where we have an asset that we will not hold for its useful life but will be selling it after a couple of years of use. In estimating future cash flows from the asset should we include its estimated disposal value in the cash flows?
How it Works?
How it Works?
Step 1:- Want to buy solution for this. Please click on submit your assignment here and then fill all details and please mentioned product code at the end of the case. Product code is extremely important to locate your assignment. You can also mail us by keeping product code as mail subject to besthomewrokhelpers@gmail.com
Step 2:- As soon as we received your details, we will inform you with through email about quotations of the given assignment. Requesting you to please mention your budget. Also ensure our email besthomeworkhelpers@gmail.com should not go into your spam folder.
Step 3:- Once you agree with our price, click on pay now and pay the agreed amount and once we received the payment assignment will be delivered before agreed deadline.
Step 4:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Features
Our Features for Assignment Help Services
Plagiarism Free Solution
The first and foremost things that we promise to our customer is plagiarism free solution i.e. a complete and unique solution as per customer’s university requirements.
Excellent Customer Care Services
You can feel our responsiveness once you use our service. Our team of excellent and dedicated customer service representatives are always ready to provide best customer care service 24X7 . Just drop a mail to besthomeworkhelpers@gmail.com and you can receive response in just no time.
Multiple Stage Quality Assurance
We design a unique multiple stage quality assurance team to ensure plagiarism free, original, relevant and as per customer’s requirements. We not only give importance to accurate solutions or writing but also we give equal importance to references style too.
Privacy and Confidentiality
We believe in maintaining complete privacy and confidentiality of all our clients. None of the information furnished to us is shared with anyone else.
Our Clients
We receive requests from clients all over the World. Most of our customers are from USA, UK, Australia, Canada, UAE, Muscat, Oman, Qatar, UAE, New-Zealand, France Germany etc.
Related Services
- Accounting Homework Help
- Accounting Assignment Help
- Computer Science Homework Help
- Management Homework Help
- Finance Assignment Help
- Online Essay Writing Help
- Strategic management case study help
- Case Study Assignment Help
- Dissertation Writing Help
- Trade finance case study help
- Project Management Assignment Help
- Mechanical Engineering Homework Help
- Online Quiz Help
- Maths homework Help
- Online Exam Help
- Economics Assignment Help
- Economics Homework Help
- English Homework Help
- Macroeconomics Homework Help
- Microeconomics Homework Help
- Statistics Assignment Help
- Australia Taxation Homework Help
- Supply chain management homework help
- Taxation homework help
- USA taxation assignment help
- Advanced accounting homework help online
- Auditing homework writing help
- Human resource management homework help
- Nursing homework help online
- Psychology homework help online
- Sociology homework help online
- Ratio analysis homework help online
- Strategic Management Homework Help Online
- Mba operations management homework help
- Human resource management homework help
- Operations management homework help
2.We have some goodwill from recent acquisitions. When we are testing the goodwill for impairment should it be done before or after impairment tests of other assets acquired?
3.While we are still profitable, profits have fallen significantly during the last year. We are trying to test our headquarters building for impairment but there are no cash flows that are directly attributable to the headquarters. Do we, therefore, not test it for impairment?
4.As you know, in the oil patch we are required to restore a property after production is complete and the wells are abandoned. Sometimes these costs are very significant and we recognize them as part of the cost of the production property and record a related liability. Should this restoration obligation be included in our estimates of undiscounted and discounted future cash flows as an outflow?
Required:
Write a formal business letter to Ben answering their questions and provide specific references to the GAAP Codification sections used to arrive at your answers.
Your research should use the FASB Codification. Log in at www://aaahq.org/ascLogin.cfm
The user name is AAA51811 and the password is EfSxkzz
Product Code: ACC666
Looking for Financial Accounting Asset Impairment Assignment Homework Help, please submit your details here with product code mentioned above.