Recent Question/Assignment

Holmes Institute HI5025 Memo 02 – Semester 03, 2014
Background:
Mr. Howe, a Junior Partner of the CPA firm Dewey,
Cheatem, & Howe (DCH), is very excited about the
opportunities created by fair-value revaluation of noncurrent
assets. He believes that there is an enormous
opportunity for large firms to increase their book
profits via the gains from such revaluations.
Required:
Mr. Tu Dewie has asked you to review the AASB rules
on the fair-market revaluation of non-current assets and
to assess what profit enhancing opportunities may arise
because of those rules.
NB: please remember that while Mr. Dewey is the
senior partner of DCH, Mr. Howe (as a junior partner)
can hurt you if you are not polite and considerate.
A Full Service Creative Accounting Firm
Loopholes Located Books Juggled Taxes Evaded
Funds Diverted Money Laundered Shortages Hidden
Pensions Plundered Credit Denied Parking Validated
Bankruptcies our Specialty!

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