Assuming that you are working as a trainee accountant at a firm and your supervisor has asked you to prepare a decription latter for one of the clients, you are required to cover the following key topics: -

1. Goodwill Impairment [proportionate and full]

2. Lease Accounting [initial recognition and subsequent measurement with amortisation]

[please note that your client is a layman who has a very little/no knowledge of accounting standards and you have to present in a way so that your client perceives the core points]

General Instructions:

• Your points must be analytical you have to apply those concepts to scenario-based examples [as same as practice exercise questions]. Do not present anything descriptive or do not just copy definitions from the notes/textbooks. You are also not supposed to copy practice exercise questions. If you do so, you will be penalised.

• Keep your points and arguments clear and to the point. Do not be too vague or generic.

• You must be careful about plagiarism and cheating. and please write broadly with explanation and example .