Contents

• 1.0. Introduction: 2
• 1.1. Disclosure of Intangible Assets 2
• 1.1.1. Intangible Asset Disclosure of Wesfarmers Limited 2
• 1.1.2. Intangible Asset Disclosure of Woolworths 4
• 2.0. Critical and Evaluation 5
• 2.1 Wesfarmers Limited 5
• 2.2 Woolworths Limited 6
• 3.0. Difference between the Discloser of two Companies 8
• 4.0. Recommendation 9

Description

This report is based on the following requirements –
You are required to write a research report to the Head of ASIC's Financial Reporting
Surveillance Program, Martha Miller*, covering the following areas:
1. State all disclosures the two selected companies made for intangible assets.
2. Critically evaluate whether the disclosures made by each company are consistent
with the requirements of paragraphs 118 – 123 and paragraphs 126 – 128 of
AASB 138 Intangible Assets.
3. Identify and critically discuss any differences in these disclosures between the
companies.
4. Based on your findings, provide recommendations on specific disclosure
requirements for intangible assets that ASIC's Financial Reporting Surveillance
Program should focus on in their next review round.