Accounting For Corporate Accountability (ACA)

Accounting For Corporate Accountability (ACA)
“Fair Value and Measurement in the Statement of Financial Position”

choose a company that operates in one of the following three business sectors:
• Retail
• Food and beverage manufacture
• Hotels
You are required to write a report of a maximum of 2,500 words (including reference list, but excluding any factual material about the company included in an appendix), which covers the following three aspects:

(a) Identify the principal types of non-current (fixed) asset owned by your chosen company (depending on the company chosen, these may be intangibles or tangibles, or both – if there are many different types of non-current asset, restrict your report to the three most significant types of asset).
(b) Discuss the problems that your chosen company is likely to have to deal with in order to measure the fair value of the types of asset you have identified, and comment on the measurement methods actually used for the asset types that you have selected in part (a).
(c) Critically analyse whether the IASB’s approach to fair value measurement is practical for companies with non-current assets that are not actively traded on broad and deep markets.