Introduction The report describes the analysis done on the practical characteristic of the accounting terminology and delivers proficient advice to the client The report also considers and showcases the different aspects of accounting features that are to be taken into consideration while undertaking the company's financial policy in accordance to the Australian Court of Law The report covers the different aspects of presentation of intangible assets of the organization named Beachlife Ltd The report also covers the potential changes that are required to be incorporated by the organization Beachlife Ltd in its accounting policies The various changes that the company must incorporate to improvise on the presentation of its intangible assets is also mentioned The report also discloses the admission of intangible assets by Beachlife Ltd in Australian market following to the prologue in 2005 of AASB 136 Impairment of Assets and AASB 138 Intangible Assets The report also covers the presentations that are laid by the Accounting Standard laws in regards to the organizations revenue and other related cost issues Presentation of such intangible assets and potential changes in accounting policy In order to increase the percentage of business commerce and trade the primary assets owned by Beachlife Ltd must be evaluated and increase the amount of intangible assets in the organization working culture
