The purpose of this assessment is to provide students with an understanding of key accounting standards related with Impairment and taxation. Part A: AASB 136 is an accounting standard that outlines the rules for recognizing and measuring the impairment of assets. The standard applies to all types of assets, including tangible and intangible assets, as well as investments in subsidiaries, joint ventures, and associates. The key features of AASB 136 are impairment testing, measurement of impairment and reversal of impairment. Companies are required to disclose information about the impairment of assets, including the assumptions and estimates used in determining the recoverable amount, and the impact of impairment on the company's financial statements. Overall, AASB 136 ensures that companies report their assets at their true value, by recognizing and measuring the impairment of assets accurately. Analyse the annual report of Qantas from 2020 to 2023. How they are applying AASB 136 and meeting the compliance of accounting standard requirements