Ma511 finance reporting

A new accountant has been appointed to the firm of Catherine Ltd, which is a reporting entity that prepares general purpose financial statements according to the AASB standards. This company owns a large number of depreciable assets. Upon analyzing the entity’s current depreciation policy, which is based on straight line depreciation method the accountant realized that financial statements prepared by the entity do not show the true and fair view of company’s financial position. He, with the approval of the board, implemented a new policy based on the diminishing balance method assuming that company assets would reflect the realizable value.


Don't use plagiarized sources. Get Your Custom Essay on
Ma511 finance reporting
Get a plagiarism free paper Just from $13/Page
Order Essay

You are required to discuss this policy change.

In your report:

1. Explain depreciable assets and describe what assets constitute property, plant and equipment in accordance with AASB 116?

2. Explain the recognition criteria for property, plant and equipment.

3. How does an entity choose between depreciation methods, for example, straight-line versus diminishing-balance methods in accordance with Para 60 of AASB 116?

4. Explain which of the two depreciation methods provides the true and fair view of financial position and financial performance of Catherine Ltd.’s financial statements.

Master Homework
Order Now And Get A 20% Discount!
Pages (550 words)
Approximate price: -

Advantages of using our writing services

Custom Writing From Scratch

All our custom papers are written by qualified writers according to your instructions, thus evading any case of plagiarism. Our team consists of native writers from the USA, Canada, and the Uk, making it convenient for us to find the best to handle your order.

Unlimited Free Revisions

If you feel your paper didn't meet all your requirements, we won't stop till it's perfect. You're entitled to request a free revision within 7 days after we submit your paper.

Quality Writing In Any Format

If you have issues with citing sources and referencing, you need not worry. Our writers are highly knowledgeable in referencing, including APA/MLA/Havard/Chicago/Turabian and all other formatting styles.

Fast Delivery And Adherence To The Deadline

All our custom papers are delivered on time, even the most urgent. If we need more time to perfect your paper, we may contact you via email or phone regarding the deadline extension.

Originality & Security

At Master Homework, your security and privacy is our greatest concern. For this reason, we never share your personal information with third parties. We use several writing tools to ensure your paper is original and free from plagiarism.

24/7 Customer Support

Our agents are online 24 hours a day, 7 days a week, and are always ready to serve you. Feel free to contact us through email or talk to our live agents whenever you need assistance with your order.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

We work nonstop to see the best client experience.


Flexible Pricing

We offer pocket-friendly prices that coincide with the preferred client's deadline.


Admission help & Client-Writer Contact

Our support team is always ready to ensure vital interaction between you and the writer whenever you need to elaborate on something.


Paper Submission

We deliver our papers early within the stipulated deadlines. We are glad to help you if there should be an occurrence of any alterations required.


Customer Feedback

Your review, positive or negative, is of great concern to us and we take it very seriously. We are, consequently adjusting our policies to ensure the best customer/writer experience.