Problem: Annual Report Assessment
You are required to select an annual report of an Australian listed company and evaluate accounting policies of goodwill and intangibles in your selected company by completing the following tasks. No restriction on the year of the annual report. However, it must contain a goodwill item in the annual report)
a) Provide a brief introduction of your selected company.
b) Explain how goodwill and intangibles are recognised and measured according to the accounting policies of your selected company.
c) Evaluate the financial performance of your selected company by comparing the amortisation expenses of intangibles to the total operating expenses using the current year's financial information and comment on the results.
d) Discuss the impact of impairment loss of goodwill on the financial performance.