Referencing Styles : Harvard Part A: 1000 word short essay about the nature of “Impairment loss” and required disclosures including referencing. Part B: Crossbow Ltd is an entity that specialises in the manufacture of leather footwear for women. It has aggressively undertaken a strategy of buying out other companies that had competing products. These companies were liquidated and the assets and liabilities brought into Crossbow Ltd. At 30 June 2015, Crossbow Ltd reported the following assets in its statement of financial position: Land $200 000 Inventory products 180 000 Brand ‘Crossbow Shoes’ 160 000 Shoe factory 700 000 Machinery for manufacturing shoes 400 000 Goodwill on acquisition of competing companies 40 000 $1 680 000 Because of the competition from overseas as customers pursue a strategy of buying online rather than visit Crossbow Ltd’s stores, Crossbow Ltd assessed its impairment position at 30 June 2015. The indicators suggested that an impairment loss was probable. Crossbow Ltd calculated a recoverable amount of its company of $1 420 000. The fair value less costs of disposal of the land was $171 000.