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ACC204 Corporate Accounting And Reporting

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Standard expected by Burger Queen management can mean that the franchise to a particular location can be taken away from the franchisee. Burger Queen management is responsible for the television advertising across the country as well as the marketing program, including the special deals that may be available at any particular time.Each restaurant is responsible for its own sales, cooking of food, training of staff, and general matters such as cleanliness of the store. However, all material used in the making of the burgers and other items sold are provided at a given cost from the central management, which can thereby control the quality and the price.

Identify the CGU(s) in this scenario. Give reasons for your conclusions.

Rose Tyler is in the business of making rubber tubing that comes in all sorts of sizes and shapes. Rose has established three factories in the north, south and east parts of the city. Each factory has a large machine that can be adjusted to produce all the varieties of tubing that Rose sells. Each machine is capable of producing around 100 000 metres of tubing a week, depending on diameter and shape. Rose’s current sales amount to about 250 000 metres a week. Each factory is never worked to full capacity. However, sales are sufficiently high that Rose cannot afford to shut one of the factories.

In order to satisfy customer demand as quickly as possible, all orders are directed to Rose, who allocates the jobs to the various factories depending on the current workload of each factory. This also ensures that efficient runs of particular types of tubing can be done at the same time. Each factory is managed individually in terms of maintenance of the machines, the hiring of labour and the packaging and delivery of the finished product.

Identify the CGU(s) in this scenario. Give reasons for your conclusions.

Earth Enterprises Ltd acquired a building in which to conduct its operations at a cost of $10 million.The building generates no cash flows on its own and is considered a part of the CGU, which is the firm as a whole. Since the building was acquired, the value of inner­city properties has declined owing to an overabundance of office space and the downturn in the economy. The company would receive only $8 million dollars if it decided to sell the building now. However, the company believes the building is serving its purpose and the profits are high, so there is no current intention of selling the building.

Discuss whether the building should be written down to $8 million. Provide any journal entries necessary.
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