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Financial Accounting Individual Research Assignment Required : You are required to research and answer the following two questions. Your answer to each question must be written on a separate sheet(s)....

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Financial Accounting
Individual Research Assignment
Required:
You are required to research and answer the following two questions. Your answer to each question must be written on a separate sheet(s). The indicative word limit for each question is approximately XXXXXXXXXXwords.
  1. Briefly explain the depreciation and impairment process in relation to approximating the fair value of fixed assets. (5 marks)
  1. Define fair value in relation to non-current assets and the approaches that may be used to calculate it. (5 marks)

Note: Students are expected to use APA referencing.
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Financial Accounting Individual Research Assignment Required: You are required to research and answer the following two questions. Your answer to each question must be written on a separate sheet(s). The indicative word limit for each question is approximately XXXXXXXXXXwords. Briefly explain the depreciation and impairment process in relation to approximating the fair value of fixed assets. (5 marks) Define fair value in relation to non-current assets and the approaches that may be used to calculate it. (5 marks) Note: Students are expected to use APA referencing. Created with an evaluation copy of Aspose.Words. To discover the full versions of our APIs please visit: https://products.aspose.com/words/ PAGE 

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Answered Same Day Dec 29, 2021

Solution

David answered on Dec 29 2021
112 Votes
Define fair value in relation to non-cu
ent assets and the approaches that may be
used to calculate it.
Answer:
Noncu
ent assets refer to those assets the amount of which cannot be realized in a
small duration of time and they are less liquid. The fair value is defined as the
value at which the assets can be disposed in the market. This is the amount which
the company is expecting to receive.
Revaluation Account or alternatively Profit and loss adjustment account is opened
and credited=with...
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