Applying IAS 1/AASB 101, explain where & how each of the following items would be disclosed in the financial statements and whether these items would be separately disclosed. Give reasons for your answers

i. A bushfire destroy a part of a companys pine plantation. Fire losses normally occur every four or five years.

ii. A company has as insurance expense of $150,000 for the current year that covers the building and contents of its corporate head office. Would your answer be different if in previous years this expense has averaged $80,000 and the increase was due to a number of claims due to theft of property at the head office in the previous period?

iii. A company has an item of plant. It bases its depreciation expense on the expectation that the plant will be used for 8 years and has recorded depreciation of $15,000 for this period.

iv. A company had an item of plant that was being used in production. This was sold during the current period for $300,000. Prior to sale it had a carrying amount of $210,000.