In: Accounting
Using the Telstra Annual Report 2019 answer the following questions;
a. AS per the report please find the screenshot of the value of total Non current assets from the annual report.
Here Non current Asset is 35286$ Million. NExt screenshot showing portion of Intangible Assets as on 30 June 2019. is 7210 $ Million. So, accordingly portion of Intangile asset in Non Current Assets is = 7210 $ Million / 35286 $ Million 20.43 %
b. Amount if Impaurement Loss recongnised by the Entity:
Impairement is done due to announcement of strategic investment in digitisation in 2016 which cause the impleentation of new IT systems and old version of IT which are part of the legagcy term of the entity need to be impaired, as they are loosing their value in the market but can be used further and retain the definition of intangible assets. that why impairement of approx 421 $ miillion in Intangible Specifically in Software, and IN tangible Assets to the extent of 57 $ million booked during the year. It is evident from the screenshot attached below only IT related ( Specifically Network and Communication) realted asset is impaired and not other assets.
Please find the screenshot.
C. AS per the Screenshot attached for the section b No intangible or Tangible asset is revalued for the year ended 30 june 2019,
Revaluation is being done when Carrying value in the books is differ from the fair value at the end of reporting period. Revaluation is carried after deducting all amortisation and impairement loss, here in the given screnario, entity has recorded the NOn current assets after deducting any depreciation and amortization and impairment loss it may cause. If the fair value is still more or less than after giving these two impact then revaluation is possible but here same is impaired and the fair value at the end of reporting period is substantially evidence to be near of the same, hence revaluation is not done.