Plagiarism-Free Management Accounting Sample Papers

Residency status and taxation in AustraliaIssue Amount Ellie should include in her assessable income in Australia during the year ended 30 June 2021 Whether the amounts are (i) ordinary income, (ii) discuss the source of income and (iii) discuss derivation. Law and Application Residents are taxed on worldwide income whereas non-residents and temporary residents are generally taxed on Australian-sourced income only. A person’s liabil...

Different industries based on their expenses and assetsThe behaviour of companies vary depending on the industry. A manufacturer or a producer of a product differ with the distributor of the same product. The assets (plant and machinery) required to manufacture a commodity are more compared to the assets used in distributing the same commodity. Therefore the manufacturing industry is expected to have more fixed assets in its balance sheet. In ...

Objectivity is having an uncompromised mental attitude by an auditor when carrying out an audit assignment. Since an auditor is a professional, they are expected to comply with Ethical Standards for Auditors as stipulated in IAASA (Irish Auditing & Accounting Supervisory Authority) (2017). Independence is the auditor's capacity to execute an audit assignment without coercion by persons with a financial interest in auditing the company (IAA...

Causes of Climate ChangeClimate change refers to long-term changes in temperature and weather patterns. It is indeed possible that the solar cycle is to blame for these alterations if they are natural. Human activity has always been the major cause of climate change because of the reliance on fossil fuels such as coal, oil, and gas for energy. When fossil fuels are burnt, a layer of greenhouse gases forms, trapping solar heat and raising ...

Financial Audit: Objectives and Primary AimFinancial audit can be best illustrated as an objective and independent assessment of the financial records prepared by the management of any business along with an impartial evaluation of the process of financial reporting. The primary aim of financial audit is to form an opinion about the prepared financial statements and on the process used to develop the financial statements that is forming an imp...

Company OverviewAusNet Service is a public limited company which is primarily listed on the Australian Stock Exchange and has a secondary listing on the Singapore Exchange. The company is owned by Singapore Power (32.3% ownership), State Grid of China (19.9% ownership) and publicly owned (48% ownership). The company is geographically headquartered in Melbourne but mostly serves Victoria and its main scope of operations concerns the business of...

Background of ITM Power plcThis report aims at analysing the financial situation of the chosen company that is ITM Power plc. This report will analyse different financial statements like cash flow and balance sheet and conduct ratio analyse to understand the current financial of the company. ITM Power plc. is the clean fuel and energy storage corporation of the United Kingdom which was incorporated in the year 2001 (Hyde, Ellis and Power 2019...

Kathmandu Holdings StrategyIn this report, there is a discussion about the business and competitive strategy of Kathmandu Holdings and how its business performance is evaluated in the context of the strategies embraced by the company. Meanwhile, the is balanced scorecard also added with outlining the four important perspectives named as internal, financial, customer, learning and growth perspectives. In last, various recommendations also have ...

Current and Non-Current Assets Complex Stuff Ltd. Balance Sheet as on 31 January 2021 Amount Amount Current assets: Cash £41,000 Receivables £18,000 Inventories £41,500 Total Current Assets £100,500 Non-Current Assets: Property, plant and equipment £88,100 Tota...

Protecting Sensitive Information in Today's Digital WorldThe information asset is valuable information that could be of several different forms, such as a digital document, a paper document, encryption or password, a database or other types of digital files. All assets are stored within some carrier, such as a laptop, cloud, server, hard drive, backup tape or USB stick. For discovering every information asset, this is useful in using categorie...

Potential audit risks identified during planning stageJudging by the discussions presented in the case study of CariBev Co, the audit risks that have been identified during the planning stage of conducting an audit has been illustrated in a tabular format as follows: 1 CariBev is involved in supplying 60% of its goods to FoodForAll at significantly reduced selling price per unit of good. This can result in t...

About Golden CasketGolden Casket is one of the Nation's biggest and perhaps most innovative confectionery organizations in the United Kingdom. Douglas Rae purchased the organization to guarantee the firm’s long-term future which came into existence in 2016, where all manufacturing, storage of goods, and offices have been located. Golden Casket always strives to nurture its business and aims to provide continuous satis...

Classification of Assessable IncomeIssue:  The main issue is determining what amounts will be included in her assessable income and amounts that will be permitted as an allowable deduction within the “sec 8-1 ITAA 1997”. The issue will also determine the net amount of Nadine tax liability and any tax offsets and levies. Rules:  The below given following procedure have been adopted while computing the taxable income of ...

The Role of Financial Accounting and Management AccountingManagement accounting is the only relevant aspect of accounting skills Managers must have. Other aspects, such as Financial accounting knowledge is important for professional accountants only.”  Do you agree? Discuss. I do not agree with the fact that management accounting is the only relevant aspect of the accounting skills managers needs to have. I feel that a manager must...

Sources of InformationVarious sources are available to the auditors to obtain the required information to gain an understanding of the client company. The following discussion identifies and assesses two such sources which can be used by the auditor to obtain information for gaining an adequate understanding of Gift: The audit file of the previous year is a major source of information. Accessing this file will provide the auditor with an unde...

Differences Between Management Accounting and Financial AccountingActivity-based management or ABM has brought significant as well as radical changes in the cost management systems. ABM tries to support the excellence of business by providing relevant information that helps in facilitating long-term strategic decisions regarding aspects of product mix as well as sourcing (Berg & Madsen 2020). ABM at the same time also tries to support contin...

What are Audit Services and Non-Audit Services?Audit in simple sense represents an impartial inspection of the financial records of a business organisation. So, audit services are the services employed by any independent individual professional or an audit firm for providing an opinion and commenting on the reliability and relevance of the financial statements prepared by the company which is the audit client. This means that the sole purpose ...

ISA 500 pertains to ‘Audit Evidence’. The standard defines ‘audit evidence’ as any information which the auditor can make use for framing a conclusion which forms the basis of the auditor’s opinion. Audit evidences include information which pertains to the accounting records of the financial statements and any other information. This standard elucidates that the objective of the auditor should be to perform...

Part A - Risk And Return CharacteristicsThe goal of this research is to identify and understand the risk and return characteristics of five worldwide asset classes, as well as make suggestions on whether or not each asset class is viable for investment. The first section of the research examines five asset classes: Australia's stock market, Canada's stock market, Australian 10-year government bonds, oil, and gold. A few statistical measures su...

Management/Cost AccountingThis report will be a focus on the Contemporary Issues in Accounting that includes management/cost accounting and environmental, corporate, and social accounting. The two issues will be discussed briefly and the last recommendation will be discussed to solve the contemporary issue. Contemporary accounting challenges examine a variety of current and growing worldwide difficulties to familiarise self with the corporate ...

Task 1 Laissez-faire economics refers to a theory that says the economy should not be intervened by the government except for protecting the inalienable rights of individuals. Laissez-faire policies must require three components to work that is capitalism, the free market economy, and rational market theory these are the key premises of laissez-faire economics (The Balance, 2022). Assumptions are made as per the rational market theory that in...

The Meaning of AI a) What is the purpose of your report? The purpose of this report is to explain the opportunities and threats attached to AI to my accounting and non-accounting clients who are torn between the AI impacts in their present business models in order to recommend a position on whether or not the AI should be adopted or embraced.  This will help allay the fears of my clients and also buttress belief of the AI proponents ...

Background Information on BP's Response to the Oil SpillThe economic cost of the BP’S response to the Deepwater Horizon Oil Spill is continuously addressed as a controversial concept that has brought about several arguments. BP also released its group income statement for the fourth quarterly of 2010 on February 1, 2011. Consequently, is a reflection of a pre-tax charge of US$ 40.9 billion which is connected to the Deepwater Horizon Spil...

Types of Financial StatementsFinancial statements are considered as an essential component of the companies and organizations. The statements relate to the projection of values estimated for the business processes. Typical examples of the financial statements are the balance sheets, income statement and cash flow statement (Palepu, Healy and Peek 2013). The commonality of the term “statement” in all the three data bears correlation...

Situation Case 1   Clarke and Johnson have been auditor of Luxury Travel Holidays, which is a travel company for the past years. As the Board of Directors is impressed with the wok of auditors, they wanted to continue them as auditors of the company for next year also. However, another request which is made by the management to the auditor provides a speech in next seminar of the company regarding promotion of the company so that...