Billabong
Answer 3
AUDIT FIRM
As per the judicial obligation, Billabong International Limited appointed Pricewaterhouse Coopers as their audit firm. PWC is a London based multinational company known for its Professional Services. As an audit firm for Billabong, Pricewaterhouse reviews the company’s accounting statements and determines the company’s financial position.
The lead auditor for Billabong is Steven Bosiljevac. Steven Bosiljevac is a partner at Pricewaterhouse Coopers. (Billabong Financial Report, 2013: 43)
Answer 8
DEPRECIATION
Land and building are shown at cost. Consecutive prices are encompassed in the asset’s carrying number or recognised as a distinct asset, as appropriate, merely after it is probable that upcoming commercial benefits associated alongside the item will flow to the group and the price of the item can be measured reliably. All repairs and maintenance are charged to the income statement across the commercial era in that they are incurred.
Accumulated depreciation
– Buildings 20-40 years
– Owned and leased plant and equipment 3-20 years
– Furniture, fittings and equipment 3-20 years
Land has not been depreciated. Building, plant and equipment and furniture, fittings and equipment have been depreciated using the straight-line method. This method has been used to allocate the assets’ cost net of their residual values and over the period of their estimated useful lives.
Total depreciation as of june 2013 stands at $34,866. Depreciation on building is $1,520, on plant and equipment is $31,919 and Plant and equipment under finance lease is $ 1,427.
(Billabong Financial Report, 2013)
Answer 9
Long-Term Liabilities
Total long-term liabilities for Billabong International Limited amount to $239,250. This consists of borrowings, deferred tax liabilities, provisions and other non-current liabilities. Borrowings account for the largest portion of the long-term liabilities. The total amount under borrowings sums up to
AUDIT FIRM
As per the judicial obligation, Billabong International Limited appointed Pricewaterhouse Coopers as their audit firm. PWC is a London based multinational company known for its Professional Services. As an audit firm for Billabong, Pricewaterhouse reviews the company’s accounting statements and determines the company’s financial position.
The lead auditor for Billabong is Steven Bosiljevac. Steven Bosiljevac is a partner at Pricewaterhouse Coopers. (Billabong Financial Report, 2013: 43)
Answer 8
DEPRECIATION
Land and building are shown at cost. Consecutive prices are encompassed in the asset’s carrying number or recognised as a distinct asset, as appropriate, merely after it is probable that upcoming commercial benefits associated alongside the item will flow to the group and the price of the item can be measured reliably. All repairs and maintenance are charged to the income statement across the commercial era in that they are incurred.
Accumulated depreciation
– Buildings 20-40 years
– Owned and leased plant and equipment 3-20 years
– Furniture, fittings and equipment 3-20 years
Land has not been depreciated. Building, plant and equipment and furniture, fittings and equipment have been depreciated using the straight-line method. This method has been used to allocate the assets’ cost net of their residual values and over the period of their estimated useful lives.
Total depreciation as of june 2013 stands at $34,866. Depreciation on building is $1,520, on plant and equipment is $31,919 and Plant and equipment under finance lease is $ 1,427.
(Billabong Financial Report, 2013)
Answer 9
Long-Term Liabilities
Total long-term liabilities for Billabong International Limited amount to $239,250. This consists of borrowings, deferred tax liabilities, provisions and other non-current liabilities. Borrowings account for the largest portion of the long-term liabilities. The total amount under borrowings sums up to