2102FE Financial Accounting ASSIGNMENT 2: Semester 2‚ 2013 DUE DATES: ASSIGNMENT: 22nd Oct 2013 (5.00pm) Tuesday‚ WEIGHTING: 15% WORD LENGTH: Maximum 1500 words. This assignment requires students to: (i) Prepare an essay relating to the Presentation of Financial Statements‚ (ii) Apply the relevant Accounting Standards and Corporate Legislation to a practical situation‚ and (iii) Analyze and discuss specific problems to associate with changes in accounting policies‚ and changes
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FEDERAL COURT OF AUSTRALIA Australian Securities and Investments Commission v Healey (No 2) [2011] FCA 1003 Citation: | Australian Securities and Investments Commission v Healey (No 2) [2011] FCA 1003 | | | Parties: | AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v BRIAN HEALEY‚ ANDREW THOMAS SCOTT‚ SAMUEL KAVOURAKIS‚ JAMES WILLIAM HALL‚ PAUL ASHLEY COOPER‚ PETER GRAHAM GOLDIE‚ LOUIS PETER WILKINSON and ROMANO GEORGE NENNA | | | File number: | VID 750 of 2009 | | | Judge:
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The Company Logo—an asset or expense? As the title of this essay suggests‚ it must first be decided whether the company symbol or logo should be recognized as an asset or an expense. An asset is defined as something of value‚ such as cash‚ equipment‚ inventory‚ or buildings‚ while expense is defined as something that has a negative effect on the value of the practice‚ such as accounts payable. The simple question that needs to be answered is “Does the company logo contributes to or takes away from
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Semester two 2013 Unit Code: CLAW6026 Unit Title: Taxation Law and Practice Stream: Tuesday 6-9PM Lecturer: Tania Goodmund Question Title: Question 1 – Earnout Rights Group members: Zhu Du 420152686 Huadi Wang 420019921 Norachai Pattanavanichkul 430015090 Adam Bottle 307141691 Jun Li 311052665 Word count: 2‚494 words In determining the tax implications
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1 Auditing issues in Enron case Independent Needed for the Houston office of Andersen‚ an audit partner that understands the role of being a "public watchdog" with "ultimate allegiance to the creditors and shareholders" . Arthur Anderson abandoned its roles as independent auditor by turning a blind eye to improper accounting‚ including the failure to consolidate‚ failure of Enron to make $51million in proposed adjustments in 1997‚ and failure to adequately disclose the nature of transactions with
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Internationally‚ more than 100 countries have adopted International Financial Reporting Standards IFRS or IFRS equivalents‚ including all EU countries and major Asian countries such as Hong Kong and Singapore which have adopted IFRS almost in their entirety. (KPMG‚ 2006‚ pp.11) The adoption of IFRS in Australia through the Australian equivalents of International Financial Reporting Standards (AIFRS) since the beginning of 2005 has reflected how Australia is also part of global momentum for consistency
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Businesses use accounting information to set goals for their businesses and to evaluate progress toward achieving those goals. Investors (shareholders) use accounting information to evaluate the prospect of future returns on their investments. Creditors use accounting information to evaluate a borrower’s ability to meet scheduled repayments of money loaned. Accounting information is also used by government regulatory agencies‚ like the Australian Securities and Investments Commission [ASIC]‚ taxing
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ACCT3003 Issues in Accounting Theory SP5 2010 Topic 4: Heritage and biological assets. The following question has some minor changes due to amendments to AASB 141 which removed reference to ‘estimated point of sale costs” and replaced it with “costs to sell”. 9.22 In 2005‚ Nambour Limited established and commenced operation of a mango farm. The trees were planted in 2005 and began producing saleable mangoes in 2011. On 30 June 2012‚ 90% of the mangoes are sold‚ one week after they were
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Abstract The purpose of this essay is to illustrate the complexity meanings of financial reporting reflect the reality and it can be the creator of social reality. Financial reporting should have an objective “truth” and “fair” view and prepare a faithful presentation for shareholders to deal with the investment. Accounting theory need to continuous change its standards or models in order to meet the future needs. This easy also discuss this statement which relate to the sustainability issues
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REGULATORY CAPTURE THEORY Capture theory assumes‚ firstly‚ that all members of society are economically rational. Therefore‚ each individual will pursue his or her self-interest to the point where the private marginal benefit from lobbying regulators just equals the private marginal cost. Regulation has the potential to redistribute the wealth. Therefore‚ people lobby for regulations that increase their wealth. Second‚ the capture view assumes‚ as with public-interest theory‚ that the government
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