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Assignment Task

 


Question 
• Assume that the Kahuna Company Ltd decides to undertake an upward revaluation of its PP&E just prior to the end of the financial year, the effect being that the total assets of the company increase, as does the shareholders' equity 

  • Explain the decision of management to undertake an asset revaluation in terms of the bonus hypothesis of Positive Accounting Theory.
     


Question  

  • In the past a number of organisations have disclosed convertible notes just below the total of shareholders' equity and therefore have not really disclosed them as debt or equity. 

 

Required:

Is this approach described above permitted under AASB132? Why or why not?

 

Question

  • Deconstruct the question to maximise marks What is a convertible note What does AASB 32 require for compound financial instruments ? Conclude based on facts of question.

 

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