Accounting : Page - 6

Background5th April 2017 Tony Local news reporter, Email address- Tony @gmail.com Phone num- XXXXXXXX The success and failure of an entity is always depends upon its employees. Even almost all the organization depict in their annual reports about their key executives, managers and other employees and appreciates their effort for the success of the company. Early evidences depict that human resource’s replacement cost is substan...

Identifying relevant details of work placeDowner Group is a public engineering and infrastructure company situated in Sydney, Australia. Grant Fenn, the Managing Director and CEO of Downer Group own the company. The company is reputed to provide services for mining, communications, technologies and transport services. In order to establish contact with the company, people need to visit the official website and drop emails as per requirements. ...

Analyzing DIPL's Financial Reports for Preliminary Analytical ProceduresIn the method for setting up the review design of Double Ink Printers Limited (DIPL), the investigative procedure related with money related information gives monstrous regard. As a matter of fact, review design passes on the required orientation and principles to the evaluators in the midst of the review operations. Precisely, review design engages the evaluators in keepi...

Capacity to adapt in Continuous Contemporary AccountingContinuous contemporary accounting is a system that measures the value of organizational assets and liabilities by considering the current and fair cash price. This accounting system incorporates determination of company’s profit and loss with respect to the changes in transaction value in accordance with the present value. During the initial period, the accountants based on the hist...

Question 1 - Magneta Limited – AASB 108 And AASB 116Financial statements of every company provide the insights about how the company is working and performing. It informs about the financial position at the particular date and the financial performance of the company over the period of time. Financial statements are prepared from the books of accounts which in turn are prepared on the basis of the provisions of the defined accounting sta...

Sales Budget for Health is Care Cafe in Blacktown City Hospital for 20161.  2016 Particulars Units Selling price ($) Sales Revenue ($) Coffee 379.5 2.5 948.75 Tea 95 2.5 237.5 hot chocolate 125 3 375 Cold drinks 100 2 200 Iced donuts 240 1 240 cakes 300 1.8 540 ...

Analyzing DIPL's Financial PerformanceAnalytical procedure is a part of auditing process which involves calculation of key financial ratios which enables to compare and analyse the performance of the company. It helps the auditor to form an overall opinion on the financial statement that whether they are showing true and fair view or not. It helps in comparing the past performance of the company with the present performance. The financial stat...

Overview of MorrisonsWm Morrisons Supermarkets Plc commonly known as Morrisons operates as the fourth largest supermarket chain in United Kingdom. The company is based at Bradford in West Yorkshire based in England. The company focuses on meeting the food and grocery needs of around 11 million customers that visit its different brick-and-mortar retail outlets spread along different regions in United Kingdom. The company operates based on a tot...

Answers: Answer to Question 1 a. Statement Showing Monthly Sales Revenue Months Bikini Board short Towel Beach Bag Total Sales Jan-18 $150,000 $90,000 $18,000 $13,000 $271,000 Feb-18 $120,000 $82,500 $13,500 $11,700 $227,700 Mar-18 $130,000 $87,000 $11,700 $10,400 $239,100 Apr-18 $100,0...

Organizational backgroundThe productivity of an organization is completely dependent on the proper functioning of the various departments or domains. The effective handing and functioning is relied on one of the key force of the organization. Managers are one of the crucial and pivotal employees of an organization who tend to efficiently join the organization with its publics and look after its operations. The managers have certain determined ...

Conceptual framework and its reportingThe most important reference while measuring the financial performance of a company are its accounting statements which have been prepared by the administration of the concerned entity. This is done in accordance to the policies and regulations set by the financial institutions. Therefore, the adherence to the financial and other criteria or standards is very important in order to produce the accounting st...

Introduction to QuickBooks Accounting Software PackageThe organization was chosen which provides the best Accounting Software Package is QuickBooks which is mainly handling the development of the Australian system. The company has been able to address the small and the medium-sized business with the offering of the on-premise accounting applications as well as the management of the different versions of the cloud systems. (Schiff et al., 2014)...

Business OverviewOrganization asset deals with running an organisations resources so as to be able to help improve the performance of the business. It focuses on the activities that are needed to control a company’s records as the personnel are referred to as important but not critical resources. It uses information technology resources and also by virtue of overseeing information resources. Knowledge management is the process of creatin...

Preliminary Analytical Procedures for DIPL's Financial Report InformationAnalytical procedures are the procedures performed by the auditor at the end of the year in order to help the auditor create overall opinion regarding financial statements in his report. It is done to ensure that the financial statements are in the perspective of the firm’s auditor. It helps to distinguish between financial and non-financial information, a...

Part 1: GeneralAASB 124 describes about the disclosures relating to related party transactions in the financial statements. The requirement of related party disclosures is given under Section 334 of the corporations’ act 2001. This includes identifications of persons or entities as related parties to the company including compensations paid to key managerial person. This AASB further includes disclosures related to transactions, outstan...

Part 1A proper organizational structure is responsible for defining normal function of all the activities involved in an organization. The main activities involved in an organization are supervision and co ordination. Organization structure defines the hierarchical structure of the organization as well. Moreover, it helps in determining the information flow within the different levels of the organization (Christensen 2013). An organization uses ...

Question 1: Management accounting and costsCertain cost elements are associated with the cost of producing a cost or service, five of which are described along with their examples as follows: Materials: The costs of materials are tangible goods required to produce a product. The material costs could be in the form of direct or indirect material costs. The direct costs of materials are the traceable and quantifiable costs incurred in producti...

Power and InfluenceThe concept of leadership is primarily based on a person or in some cases a group of people who have actively taken on the post of assistance provided to others with the help of motivation, effective decision making as well as a strong level of commitment to promote any kind of change. Leaders are also considered as one of the important success in management of companies. At the time of setting objectives, a leader which is ...

Case study of a property developer and drilling businessIncome that is subjected to tax is known as the assessable income. The profit derived from the selling of subdivided land can be considered as capital gains and ordinary income depending upon the circumstances (Burnett 2015). As evident from the study, that Marzena entered into the contract to sell an entirely separate block of land for $79,000, which was originally purchased for $81,000....

Audit Planning:In this report, innovative methods have been implemented to select seven accounts for the purpose of audit. The choosing of number of accounts is being done in a way that to examine the objective of extraordinary fluctuations in particular pieces and aids to detect the reason of the variations. The variations percentage in pieces along the variations in trail balance is taken as a base. The review in a systematic manner is di...

Key Risks in Auditinga) From the case study, it is recognized that Sharon Gallagher, Josh Thomas, and Jo Wadley are associate members of an audit firm named W & S Partners. Sharon works as an audit manager, Josh is a senior auditor, and he helps the partners. Jo Wadley analyzes the decision of accepting the auditing task of Cloud 9 Pty Ltd for the year ending on 31st 2016. In this matter, Jo has investigated various things, and he discover...

ASIC v Rich Case - Allegations and the Judgment Decision given by Austin J in case law Australian Securities and Investments Commission v Rich (2009) 236 FLR 1 (‘ASIC v Rich’), redraw the provisions related to business judgment rule in Australia. This report discusses the business judgment rule and also the decision in ASIC v Rich. This report mainly focus on three main issues which directly relates with the balance between auth...

In the given assignment two companies have been given for analysis towards the internal control being maintained by the entity, the strengths and weaknesses in the system, the affect effect or the wrong doing which may happen as a result of the weak internal control and finally the risk control assessment of both the companies has been done with the view to make aware the management of the company with the loopholes and how the same can be rec...

John and Jane's Electrical BusinessJohn and Jane run an electrical business since last 8 years. But, recently due to high demand in electrical supplies and fitting they have planned to open 3 stores all in different locations. Earlier they use to follow traditional manual system of accounting and now considering shifting to online accounting because they faced lot of difficulties in maintains accounts manually. They faced difficulties such as...

Importance of ITSM for NNITClearness, standardization and the scalability appears to be the most crucial part of any firm processing to the essential development. It was the literature for the NNIT at the time when the user, utility, and technology were added to the trade. Primarily, NNIT implemented the utility collection to give a synopsis of every utility offered like the supremacy structure for emphasizing obvious possession in the firm. A...