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ACC510 Financial Reporting 11  

Pages : 8 | Type : Essay

Answer: Introduction In this report, the performance of the company Oil Search will be evaluated in terms of several assets, liabilities, leases and revenues. The company oil search is associated with the business of oil exploration and production in Australia and had recorded a total production of 30.3 million barrels of oil. This company had also managed to increase its net profit by 236% and for this; the net profit of the company is measu...

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userWritten By : Mark     postPosted On : Feb 13, 2020     downloadDownload : 0
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ACC510 Financial Reporting For Property, Plant And Equipment  

Pages : 4 | Type : Essay

Answer: 1. Fair value can be used in three different contexts they are: Fair value to be used for the purpose of accounting standards Fair market value as commonly used in the ATO’s definition of market value and Fair market value as used by courts. Fair market value is defined under AASB 13 as the predictable price at which an arranged transaction to transfer the asset or to sell the asset takes place amongst the market participan...

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userWritten By : Mark     postPosted On : May 30, 2020     downloadDownload : 0

More Courses from University Of The Sunshine Coast

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ACC510 Financial Reporting For Australian Accounting Standards Board  

Pages : 5 | Type : Essay

Answer: Requirement 1 The issue that has been presented in the question is that the term fair value is used in different ways, which makes it difficult for the users of the financial statements to understand. The different ways in which this particular term can be utilized has been listed down as follows: The term ‘fair value’ is utilized for the purpose of accounting The fair market value as commonly used in the ATO’s def...

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userWritten By : Mark     postPosted On : Jun 05, 2020     downloadDownload : 0
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ACC510 Financial Statements Analysis For Contingent Assets And Contingent Liabilities  

Pages : 7 | Type : Essay

Answer: Introduction The issue that is presented is that the accounting statements of Billabong  International Limited should has been asked to be analyzed in order to determine the fact whether the accounting reports are prepared in compliance to the prescribed standards for the purpose of determining the reliability of the accounting statements. The financial report of the company is analyzed to discuss the important points that are me...

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userWritten By : Mark     postPosted On : Jul 06, 2020     downloadDownload : 0
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ACC510 Financial Reporting  

Pages : 4 | Type : Essay

Answer: Fair value has different meaning depending on the usage and context. Fair value in a broader context is the price that is received or paid for transfer of any asset or the amount received after the sale of any asset. In the normal context fair value is termed as the exit price. Fair value is mainly based on market specific assumption and not entity based assumption. In the present case fair value is used in three different contexts th...

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userWritten By : Mark     postPosted On : Sep 25, 2020     downloadDownload : 0
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ACC510 Financial Reporting 2  

Pages : 3 | Type : Essay

Answers: Part (i) Acquisition Price  $2,000,000.00  Goodwill  $240,000.00  Recoverable Amount  $465,000.00  Carrying amount   Factory  $250,000.00  Inventories  $150,000.00  Brand  $50,000.00  Goodwill  $50,000.00  Carrying amount  $500,000.00  Impairment Loss  $35,000.00    ...

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userWritten By : Mark     postPosted On : Sep 26, 2020     downloadDownload : 0
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ACC510 Financial Reporting  

Pages : 8 | Type : Essay

Answer: Financial Reporting is regarded as the process to arrange, record, analyze and interpret the business entity’s financial information so that the potential investors and other users can judge the financial position of those companies (Nobes, 2014). This essay aims at analyzing different aspects of the financial reporting of Auscann Group Holding Limited (AusCan Group). AusCann Group makes partnership with the leading companies i...

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userWritten By : Mark     postPosted On : Dec 09, 2020     downloadDownload : 0
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ACC510 Ethical Responsibilities  

Pages : 6 | Type : Essay

Answer: Introduction  Corporate sustainability initiates in the presence of an organisational value system as well as a principle-driven strategy to implement business. This strategy encompasses operation in manners that can meet the basic responsibilities in contexts of labour, human rights, anti-corruption and environment. The thesis statement of this essay is to evaluate sustainable principles and values of ethics in a company in rega...

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userWritten By : Mark     postPosted On : Dec 15, 2020     downloadDownload : 0

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