Answer: Introduction: When any business organisation is winded up, it could be termed as the process of liquidation. In this process, it is mandatory for the concerned organisation to follow a series of steps for shutting down its business operations permanently. The role of the liquidator is significant in this aspect, as the individual would be accountable to identify liabilities as well as business rights for settling the payment of the le...Read More >>
Answer: Introduction: Any changes in the method of accounting needs to be disclosed in the books of accounts of the company and if company violates the disclosure requirements the company will be penalised for violating the rule and by laws of the company (Bragg 2010). Accounting policy changes disclosure is a crucial thing for the investors and stakeholders’ of the company as this helps them to check the stability and financial positio...Read More >>
Answer: Introduction In the business organizations, Accounting is considered as an important aspect. Accounting refers to the processes to measure, process and communication of financial information of the companies. In other words, accounting helps the business organizations in correctly keeping all of their financial accounts (Johnson and Noguera, 2012). In the process of accounting, certain factors are required to be taken into considerati...Read More >>
Answer 1.Events leading to Liquidation of One Tel Company OneTel company came into existence only in 1995 but by the year 2001 the company was the 4th biggest in Australia telecom sector with an estimated 2,000,000 customers. The company was listed in ASX to years later in 1997 and was immediately valued at $200 million with an initial capital investment of $5 million in 1995. The company built the 3GSM network in 19...Read More >>
Answer Introduction Accounting data is the set of valuable information that reflects an image of the company. In order to understand the nature of the company, one has to refer the accounting information. Accounting data is required by both the external and internal sources of the company so as to analyze the performance as well as financial position of it. Therefore, it is important to represent such data in the best possible way so as to be a...Read More >>
Answer Reasons for Liquidation of Abc Learning, HIH Insurance and One Tel Phone Company ABC Learning Centre Introduction ABC Learning Centre was a child care company formed in the year 1988 with its headquarters in Brisbane, Australia. It was recognized as one of the leading child Care Company across the world. The company expanded its business drastically which is clear from the fact that there were around 18 centres in the year1997 which ro...Read More >>
Task Details: Internally generated intangible assetsIn their article entitled ‘U.S. firms challenged to get “intangibles” on the books’, Byrnes and Aubin (2011) noted that in the United States some companies were accounting for intangibles such as brands, patents and information technology differently when they were developed internally rather than being acquired. This could mean major differences in accounting numbers whe...Read More >>
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