HI6025 Accounting Theory and Current Issues System

HI6025 Accounting Theory and Current Issues System

Questions:

Question 1
ABC Ltd has the following land and buildings in its financial statements as at 30 June 2022:
Residential land, at cost    2 000 000
Factory land, at valuation 2020    1 800 000
Buildings, at valuation 2020    1 600 000
Accumulated depreciation    (200 000)
At 30 June 2022, the balance of the revaluation surplus is $800 000, of which $600 000 relates to the factory land and $200 000 to the buildings. On this same date, independent valuations of the land and buildings are obtained. In relation to the above assets, the assessed fair values at 30 June 2022 are:
Residential land, previously recorded at cost    2 200 000
Factory land, previously revalued in 2020    1 400 000
Buildings, previously revalued in 2020    1 800 000
Required:
Provide the journal entries to account for the revaluation on 30 June 2022. ABC Ltd classifies the residential land and the factory land as different classes of assets.
 
Question 2
XYZ Ltd acquires 100 per cent of Red-X Ltd on 1 July 2021. XYZ Ltd pays the shareholders of Red-X Ltd the following consideration:
Cash  70 000
Plant and equipment    fair value $250 000; carrying amount in the books of ABC Ltd $170 000
Land    fair value $300 000; carrying amount in the books of ABC Ltd $200 000
There are also legal fees of $190 000 involved in acquiring Red-X Ltd.
On 1 July 2021 Red-X Ltd’s statement of financial position shows total assets of $300 000 and liabilities of $3000 000. The fair value of the assets is $800 000.
Required:
Has any goodwill been acquired and, if so, how much? And discuss the potential for including associated legal fees into the cost of acquiring Red-X using appropriate accounting standard.
 
Question 3
Explain how the lease liability and a right-of-use asset would be recognised and measured at the lease inception? Explain the typical expenses recognised by a lease during lease period.
 
Question 4
Discuss (Using Australian accounting standard) If a decision is made to abandon an area of interest, how should any pre-production costs in respect of that area be treated? Explain, what costs should be included in the cost of inventory of an entity involved in the extractive industries.
 
Question 5
Pearson Ltd is an Australian listed company. Its results for the financial year ending 30 June 2023 have exceeded expectations—profit before tax is $11.194 million and income tax expense is $2.216 million. As at 30 June 2022, there were 11.700 million ordinary shares on issue. On 11 May 2023, 4.225 million further ordinary shares were issued at a price of $2.99 paid to $2.4. The partly paid shares carry rights to dividends in proportion to the amount paid relative to the total issue price.
 
Question 6
Explain the ‘qualifying asset’ and how do we treat exchange rate differences relating to the acquisition of qualifying assets? Compare and contrast this with the treatment for assets that are not qualifying assets?

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HI6025 Accounting Theory and Current Issues System

HI6025 Accounting Theory and Current Issues System

Questions:

Question 1
ABC Ltd has the following land and buildings in its financial statements as at 30 June 2022:
Residential land, at cost    2 000 000
Factory land, at valuation 2020    1 800 000
Buildings, at valuation 2020    1 600 000
Accumulated depreciation    (200 000)
At 30 June 2022, the balance of the revaluation surplus is $800 000, of which $600 000 relates to the factory land and $200 000 to the buildings. On this same date, independent valuations of the land and buildings are obtained. In relation to the above assets, the assessed fair values at 30 June 2022 are:
Residential land, previously recorded at cost    2 200 000
Factory land, previously revalued in 2020    1 400 000
Buildings, previously revalued in 2020    1 800 000
Required:
Provide the journal entries to account for the revaluation on 30 June 2022. ABC Ltd classifies the residential land and the factory land as different classes of assets.
Question 2
XYZ Ltd acquires 100 per cent of Red-X Ltd on 1 July 2021. XYZ Ltd pays the shareholders of Red-X Ltd the following consideration:
Cash    70 000
Plant and equipment    fair value $250 000; carrying amount in the books of ABC Ltd $170 000
Land    fair value $300 000; carrying amount in the books of ABC Ltd $200 000
There are also legal fees of $190 000 involved in acquiring Red-X Ltd.
On 1 July 2021 Red-X Ltd’s statement of financial position shows total assets of $300 000 and liabilities of $300 000. The fair value of the assets is $800 000.
Required:
Has any goodwill been acquired and, if so, how much? And discuss the potential for including associated legal fees into the cost of acquiring Red-X using appropriate accounting standard.
Question 3
Explain how the lease liability and a right-of-use asset would be recognised and measured at the lease inception? Explain the typical expenses recognised by a lease during lease period.
Question 4
Discuss (Using Australian accounting standard) If a decision is made to abandon an area of interest, how should any pre-production costs in respect of that area be treated? Explain, what costs should be included in the cost of inventory of an entity involved in the extractive industries.
Question 5
Pearson Ltd is an Australian listed company. Its results for the financial year ending 30 June 2023 have exceeded expectations—profit before tax is $11.194 million and income tax expense is $2.216 million. As at 30 June 2022, there were 11.700 million ordinary shares on issue. On 11 May 2023, 4.225 million further ordinary shares were issued at a price of $2.99—paid to $2.4. The partly paid shares carry rights to dividends in proportion to the amount paid relative to the total issue price.

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ENG 2008 English|Toni Morrison

ENG 2008 English|Toni Morrison
 Be sure to organize your ideas and the quotes you choose to craft a cohesive, thoughtful essay. Remember to follow MLA guidelines. See the rubric on Blackboard our class website for further clarification, and remember that I am always happy to look over a draft with you during my office hours before the due date. How does W.E.B. Dubois introduce the two concepts describing a black person’s experience in America: the veil and double consciousness. Looking at the short stories, essay and novel The Bluest Eye by Toni Morrison from Unit 2, develop an essay that defines these concepts with examples from the texts. prompt 2: Identity: How do others’ expectations and actions impact our own identities? How do loneliness and isolation impact identity development? Specifically, how does racism impact individual identity? How do treachery and betrayal impact the identity of the betrayer? The victim? Using the text of Ralph Ellison, the photos by Gordon Parks or Toni Morrison’s novel The Bluest Eye to make an argument answering this question of identity through expectations. Why does Toni Morrison tell us the ending of the story in the Introduction? Describe her purpose using evidence from the text. In the introduction, she tells the reader will happen at the end of the novel and that the how is the important part. Why is the “how” important? How does Toni Morrison use structural choices (narration, order of events, epigraph) to help develop the theme of powerlessness in The Bluest Eye? Explain using evidence from the text.
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SPAPP1 Accounting Information Systems and E-Commerce Capabilities

SPAPP1 Accounting Information Systems and E-Commerce Capabilities

Task:

This assignment is set to provide students with an opportunity to: 
• Analyse an accounting information system to support a relatively small business system with some e-commerce capabilities
• Use narrative description for documentation
• Report and document systems flowchart 
• Identify and analyse measures that are in place to control the system and its data 
• Recommend additional controls to improve operational and information system effectiveness.
Detailed description of the requirements for this section are as follows:
1 Organisation/Industry Description
Describe the products/services sold by the firm. Describe the firm’s industry, primary competitors, etc. Include an organisation chart showing the intended major reporting relationships that you will design into your group’s system. Discuss significant industry trends and competitive/operational challenges (e.g., slow growth, new competitors, new regulations, etc.) Cite all sources used (including trade journals, general business publications, Web pages, and primary sources). The project should be properly referenced using an accepted reference technique accompanied by appropriate bibliography and literature review at the end of section 
2 Describe the purpose and key features of each relevant part of the AIS
Describe how each of the proposed AIS sub-systems contributes to organisational goals. On the organisation chart, show how the department(s) in which each AIS sub-system is used relate(s) to the larger organisation. Describe each sub-system’s major functions, typical transactions, reports produced, and frequency of transaction and master file updates. 
3 Discuss how your system addresses the main issues specific to e-business systems:
Identify the main issues that are specific to e-business processes/activities/systems (as opposed to “traditional” business processes/activities/systems). Discuss how your system design addresses these issues.
4 Describe how each of your proposed AIS sub-systems will provide data for managerial decisions.
Describe the typical managerial decisions supported by each of the proposed sub-systems and what other data and/or information is needed for these decisions in addition to that supplied by the system.
5 Describe the key features of AIS software chosen
As part of the AIS design process, you will identify suitable software application(s) to support your system design. Normally suitable software application(s) are identified after the system has been designed and system specifications are identified. However, it may be possible to integrate the process of application selection and design as an iterative process (i.e. find suitable software, identify its key features and adopt these features into your sub-systems design). Obtain a copy of the chosen AIS software brochure. Read the comments about the accounting software in the brochure in respect to those modules that the group has chosen to report on. Identify and describe the key elements and features that apply to each of the subsystems under review.

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HI5019 Strategic Information Systems

HI5019 Strategic Information Systems

Question 1                                                                                                    (11 marks)

 

The role of internal audit is to provide independent assurance that an organisation’s risk management, governance and internal control processes are operating effectively. ABCD Limited is concerned about its Internal Audit (IA) function. Recently, ABCD Limited is expanding and reorganizing its Internal Audit (IA) function. Currently the Director of Internal Audit, Shuja Mehboob, reports to the corporate controller, who receives and reviews all internal audit reports. Mehboob forwards copies of the internal audit reports to the audit committee of the board of directors and to the manager directly responsible for the function being audited.

 

An issue of contention among the management team pertains to which department or function the Director of Internal Audits should report. Martin Stevens the CEO wants to ensure that ABCD Limited complies with the SOX and that the internal audit department is structured such that it strengthens the company’s internal control system. Also, an overarching objective for the reorganized audit function is that the external auditors are able to rely on the work performed by the internal audit department to a substantial degree. Arguments put forth by interested parties as to where the IA department should be organizationally located are presented below:

 

Chief Operations Officer (COO). Robert, the COO of ABCD Limited, believes that the Director of IA should report to him. Under this arrangement the IA staff members would be involved in the preparation of policy statements on internal control regarding safeguarding of assets and in the design of business processes.

Chief Information Officer (CIO). Marry, the CIO, has pushed hard to have the IA function report to him and take on an active role in the design, installation, and initial operation of a new computerized systems. IA staff will be primarily concerned with the design and implementation of internal accounting controls and conduct the evaluation of these controls during the test runs and audits.

Corporate Controller. The controller Bailey Eder, believes the IA group should remain within her functional area. Currently the IA staff performs a number of controller related tasks. These include:

 

  • Internal auditors reconcile bank statements of the corporation each month. The controller believes this strengthens the internal control function because the internal auditor is not involved in either the receipt or the disbursement of cash.
  • Internal auditors review the annual budget each year for relevance and reasonableness before the budget is approved. At the end of each month, the controller’s staff analyzes the variances from budget and prepares explanations of these variances. These variances and explanations are then reviewed by the internal audit staff.
  • Lastly, the internal auditors make accounting entries for complex transactions when employees of the accounting department are not adequately trained to handle such transactions. The controller believes this gives an added measure of assurance to the accurate recording of such transactions.

 

Required: We have discussed internal audit independence during our interactive tutorials. Your answer should be based on our discussion. Please answer the following questions.

 

  1. For each of the proposed tasks to be performed by the IA function, explain whether ABCD Limited’s internal audit independence will be materially impaired. For this explanation, consider each manager’s arguments independently. [6 Marks. Word Limit: Up to 300 words]
  2. To maintain independence, where should the Director of Internal Audits report? Explain your answer. [5 Marks. Word Limit: Up to 200 words]

 

ANSWER:  ** Answer box will enlarge as you type

 

 

 

 

Question 2                                                                                                    (11 marks)

Richard has been a highly regarded employee of the Brier Corporation for almost 20 years. Her loyalty to the company is reflected in her dedication to her job as general accounting clerk from which she has not taken a vacation in almost 12 years. Because of her dedication and long tenure, she has acquired many related responsibilities, which has allowed the Brier Corp to reduce its work force through attrition, control salary expenses and become more efficient and competitive. The following describes Richard’s responsibilities.

 

Richard receives copies of credit sales orders from the sales department. From these documents she accesses the AR subsidiary ledger from her office computer and records the AR. She then records the sale in the sales journal and posts the transactions to the general ledger accounts. Cash receipts in payment of customer AR come directly to her office. She records the cash receipts in the GL cash and AR accounts and updates the AR subsidiary ledger. She then endorses the checks “for deposit only” and deposits them in the bank at the end of each day.

Required:

  1. Identify any control problems in the procedures described above. [3 Marks. Word Limit: Up to 200 words]
  2. Based on the control problems identified above, what sorts of fraud are possible in this system? [4 Marks. Word Limit: Up to 200 words]
  3. What controls are needed to reduce the risk of fraud? [4 Marks. Word Limit: Up to 200 words]

 

ANSWER:

 

 

 

 

Question 3                                                                                                    (7 marks)

Paul Williams recently joined XYZ2 Limited as the head of accounting department. Williams spent the first few weeks to analyse the account information system. Based on this analysis, Williams is concerned about the purchase system of XYZ2 Limited. Here is the details of purchase system.

 

The purchasing agent of XYZ2 Limited periodically checks inventory levels from a computer terminal, which is connected to a central accounting system. The agent searches the inventory file for items that need to be ordered. He then selects a supplier, prints a hard copy of the purchase order, and mails it to the vendor. The clerk files one copy of the PO in the department and sends a second copy to the AP Clerk. When the inventories arrive at the receiving department, a receiving clerk reconciles the items with the packing slip, inspects them for condition, and manually prepares a three-part receiving report. The clerk sends one copy to the purchasing department to close out the open PO, files one copy along with the packing slip in the receiving department, and sends one copy with the inventory to the warehouse.

 

In the purchase system, account payable clerk performs some key roles. When the accounts payable clerk receives a hardcopy invoice from the vendor, she reconciles the invoice with the purchase order, records the liability in the AP Subsidiary Ledger from the terminal in her office, and assigns a due date for payment. The warehouse clerk receives the inventory, reconciles it with the receiving report, and updates the inventory subsidiary ledger from a terminal in the warehouse.

 

Required: Describe the uncontrolled risks in the system of XYZ2 Limited. Against each identified risk, describe the physical controls needed to reduce the risks. [7 Marks. Word Limit: Up to 600 words]   

 

ANSWER: 

 

 

 

 

Question 4                                                                                                    (7 marks)

Part (a). During the week 10 and 11, we have discussed different feasibility studies, including technical, economic, legal, operational and schedules feasibility. Based on this discussion,  elaborate cost-benefit analysis as it is performed in the economic feasibility. [4 Marks. Word Limit: Up to 200 words]

 

Part (b). The system experts perform the design and implementation phases of the system development life cycle. However, the accountant’s role in these phases cannot be ignored. Comment on the statement. [3 Marks. Word Limit: Up to 150 words]

 

ANSWER: 

 

 

 

 

Question 5                                                                                                    (7 marks)

 

Miss Anglea recently joined A2A Limited as an accounting clerk. As a part of financial reporting process, she receives the following source documents to prepare journal vouchers for general ledger entries.

 

  1. purchase orders,
  2. sales invoices, and
  3. vendor invoices

 

At the end of each day, Angela posts the journal vouchers to the general ledger and the related subsidiary ledgers. Each month the clerk reconciles the subsidiary accounts to their control accounts in the general ledger to ensure that they balance.

 

Required: Discuss any control weaknesses and risks associated with the accounting information system of A2A Limited. [7 Marks. Word Limit: Up to 400 words]    

 

ANSWER: 

 

 

 

 

Question 6                                                                                                    (7 marks)

You have been working in the accounting department of AAA Limited since 2000. During this period, you have performed various roles, including:

 

  1. Evaluating the purpose and role of accounting information systems in achieving the overall objectives of the organisation,
  2. Articulating the various transaction cycles, financial reporting, management reporting systems and ecommerce systems to technical and non-technical stakeholders,
  3. Evaluating systems development methodologies and the role of accountants in system development projects,
  4. Appraising the risks inherent in computer-based systems/ERP, including the role of ethics and the various internal control processes that need to be in place, and
  5. Critically evaluating the range of cultural, security, privacy and ethical issues.

 

Recently, you joined another company for a senior role as a chief information officer. You are excited to perform this senior role. David is the chief executive officer (CEO) of your organisation, and he is excited to implement an Enterprise Resource Planning (ERP) system. Recently, your CEO has met with a consulting ERP firm based on a friend’s recommendation at his club. During a recent meeting, David invited the chief consultant who is charming, personable, and seemed very knowledgeable. The CEO’s first instinct was to sign a contract with the consultant, but he decided to hold off until he had received your input. 

 

Required: David wants your opinion on this issue. In particular, he asked you to write a memo presenting the issues and the risks associated with consultants. Your discussion should be based on the relevant, interactive tutorial. Further, outline a set of procedures that could be used as a guide in selecting a consultant. 

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HA2042 Accounting Information Systems

HA2042 Accounting Information Systems
Question 1 (07 marks) An ERP system has been emperically proven to bring significant benefits to the organisation. However, it is also worth taking into consideration its disadvantges to have a successful implementation. List AND explain at least three examples of pros and three examples cons of an ERP system. ANSWER: ** Answer box will enlarge as you type Question 2 (11 marks) Figure 1 presents different business activities involved in the revenue cycle of ABC company. (a) Describe at least three (03) weaknesses depicted Figure 1. (4.5 marks) (b) Discuss the risks associated with the weaknesses in identified in (a). (4.5 marks) (c) Suggest the control activities for these weaknesses. (02 marks)
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ACCT5002 Accounting for Managers : Financial Statements

ACCT5002 Accounting for Managers : Financial Statements

Questions:

Cultural Web Pty Ltd (CW) is a start-up founded by Manu, who has a vision to promote cultural understanding through its product range. Initially, the business will focus on one product. However, the long-term plan is to add a multitude of different products from different cultures, each produced by people of that culture living in a country not of their origin but now their home. These producers will share a cultural story associated with their product. 
 
Manu spent $1,000 in September to set up the company, choose an initial product, negotiate with potential suppliers and undertake market testing. Based on this initial research, Manu has forecast unit sales and unit purchases for the first six months of full operation, which will start in the first week of November. These forecasts are shown in the table below.
Month Sales (units) Purchases (units)
Oct 0 600
Nov 600 900
Dec 900 1,100
Jan 1,100 1,300
Feb 1,300 1,600
Mar 1,600 1,600
Apr 1,600 1,600
A contract has been signed with a supplier of the chosen product. The contract stipulates a price of $55 per unit for orders of 500 or more units. The price is fixed for one year and purchases must be paid for in the month following supply. Purchases are ordered and delivered within the same month. Freight inward, organised with a transport company, will be $10 per unit and be paid in the month following delivery.
Based on his market testing, Manu has settled on a selling price of $80 per unit and credit will be granted to all customers. Collections are estimated as follows: 25% in the month of sale, 70% in the month after sale and 5% in the second month after sale. A number of other operating expenses have been estimated, all of which will be paid as they are incurred: an assistant at a cost of $3,000 per month; rent of $3,500 per month for office space and an adjacent inventory storeroom; motor vehicle running costs of $500 per month; and $2,500 in other fixed costs.
On the 1st of November, CW will purchase the following assets: a motor vehicle for $30,000 with a 7 year useful life; furniture and fittings for $12,000 with a 10-year useful life; and office equipment for $10,000 with a 3-year useful life. The expected salvage value for all these assets is zero and the straight-line method will be used to depreciate all assets.At the end of October, Manu intends to put cash into the company bank account for an amount equal to November’s forecast cash payments. He wants the company to be making a monthly profit (before interest and tax) of $15,000 by the end of the first six months of full operation.
 
Manu is seeking your help, as a management consultant, with the initial business financial plans. Your task is to present the following to Manu:
1. A CVP analysis using monthly sales units with a brief interpretation and implications for the business.
2. A monthly cash budget for the first 6 months of operation (November to April) based on Manu’s initial forecasts and estimates, along with a brief interpretation that explains any major implication(s) for the business.
3. Point out financing needs and suggested financing sources.
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HBD106 Human Biology and Disease: Role of Immunological Responses

HBD106 Human Biology and Disease: Role of Immunological Responses

Questions:

Being a nurse, you will communicate with clinicians (Nurses, GPs, specialists, or other allied health professionals) about your patient’s medical condition(s) on a regular basis. This assessment task will help you to gain skills about what types of information you should include in an information sheet while communicating with a clinician.

This assessment aims to bring together knowledge about individual body systems and how various conditions can impact multiple bodily systems, with signs and symptoms seen throughout the various systems, investigations, and treatment. 

To complete this assessment task, your plan must follow these steps:

  • Topic osteoarthritis
  • Research this condition and the bodily systems that it impacts.
  • Outline a plan for your information sheet.
  • Your plan for the information sheet should include information about:
    • Burden of disease,
    • Signs and symptoms,
    • Information on investigations and treatments based on the latest scientific evidence.

(i) You can also include any screening tests and links to other helpful resources. 

  • Describe the pathophysiological process and identify medical terminologies/ definitions (where appropriate) that you will require for your information sheet.
  1. Discuss the role of immunological responses related to inflammation, infection, hypersensitivity, autoimmunity and immunisation.
  1. Explain the body’s response to injury and disease at both the cellular and tissue levels.
  1. Compare and contrast microorganism types and discuss in the context of immunity, infection control and publichealth.
  1. Identify and describe the pathophysiology, aetiology and clinical manifestations of the common health disorders studied.
  1. Explain the underlying pathological and physiological principles as they relate to degeneration and aging.

Identify and explore the role social and environmental factors may have in the prevention or pathogenesis of common health disorders.

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HUMN 2663 Do the Right Thing

HUMN 2663 Do the Right Thing
During the assessment: To add your answers to the assessment word document you will find a box under each question where it asks you to Click or tap here to enter text. Click on this box and begin typing your You can leave Moodle at any time once you have downloaded your assessment, HOWEVER the clock will continue to count down (closing down your internet browser will save you bandwidth issues if your internet is not always reliable). If you leave Moodle at any time, you MUST return to the assessment area on Moodle and click on Continue the last attempt before the time runs out to upload your completed assessment To complete & upload your assessment: Save the document to your desktop using Your Name_StudentID_CourseCode Return to the Moodle assessment area and click on Continue the last attempt button to return to the assessment. Scroll down to Question 1, and click on the paper icon to upload your completed assessment. Click Finish attempt and follow the final prompts to submit your assessment
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BUSM4741 Financial Analytics For Managerial Decisions- a long discussion with he

BUSM4741 Financial Analytics For Managerial Decisions- a long discussion with he

Task:

Pedigree Pooch Food Ltd finances
 
As Lucy researched her expansion options, she also had a long discussion with her financial adviser who told her about a listed company called Pedigree Pooch Food Ltd, which produces dog food and treats and can be considered as a proxy. Lucy was able to find out that Pedigree Pooch Food Ltd finances its business as follows:

• 2 years ago, the company had issued 3,000 5-year bonds outstanding with an 8.0% coupon rate and semi-annual coupons. The face value of these bonds is $1,000 and they currently trade at $1,029.70. They have just paid the last coupon.

• 68,530 company shares are also outstanding, and currently trade at $40 each. Currently the risk-free rate and market risk premium are estimated to be 4.0% and 6.0%, respectively. The beta of a comparable firm is 0.75.

• Pedigree Pooch Food Ltd also borrowed $820,000 recently at 2.50% p.a., compounded weekly.

The corporate tax rate is 30%.  

Part B 

Two questions to be answered: 
(While these questions are solved in Excel, they must also be presented properly in a Word/Pdf document)

1. With the given information about Pedigree Pooch Food Ltd, estimate the suitable Weighted Average Cost of Capital (WACC) for Happy Paws Pty Ltd.

2. Using the WACC you have established, (round it to the nearest whole number), undertake an NPV analysis of the two alternatives Lucy has regarding the manufacturing machines for the dog treats.

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