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Client’s Details Client Details Applicant's details Clients Clients First name/s Jacqueline Hugh McDowall Surname McDowall McDowall Number of dependant None None Relationship Wife Husband Employment status Full time Full time Occupation Nurse Truck Driver ...
Overview of Trunkey Creek WineThe mechanism of ratio analysis refers to the financial statement assessment for obtaining the financial performance company measurement in the major areas of the business. For the current organization of Trunkey Creek wine that is chosen the accounts which are to be examined includes investments, accounts receivables, marketing expense and property assets. In this section, risk of audit deals is analyzed that dea...
Importance of Ethics in AccountingThe use of ethics in accounting is in general concerned with making good and moral decisions in relation to transparency and disclosure of financial information. However, over prediction of financials would not be breach of ethics. This is due to the reason that, failure to maintain transparency and disclose relevant financial information to the investors would actually affect the decision of the investors (Le...
Benefits and drawbacks of standard costing techniquesThe main motive of this report is to analyze that how the tool of management accounting helps in attainment of growth as well as success for an organization. In this report, two articles have been taken into consideration for the correct use of the standard costing so that the correct results for same can be revealed. Also, different questions are taken into consideration which has to b...
The role of assets in hotel managementAccording to Campbell, Jardine and McGlynn (2016) Asset Management is the method of maintaining and effectively utilization of assets of the company. The primary role of assets in hotel management is all about earning revenue and proper utilization of the assets. Where tangible assets usually has a bigger impact on the working of the hotel industry, intangible assets often plays crucial factors in determin...
Findings and AnalysisCrowdfunding has become a popular technique of raising money for special projects, ideas including events. The concept grew by leaps and bounds in the last couple of years due to the upward trajectory of the start- up culture across the globe. Thus, a wave of organization including funders have come together to help build the momentum of the start-up culture. Crowdfunding is of great importance to people who have brilliant...
The Importance of Management AccountingThe Management Accounting, for any organisation, is an important aspect in the financial system which helps manage and evaluate the business performance effectively. It facilitates the effective decision making through the collection and reporting of internal financial information. Long and short term strategic decisions can be made by the owner of any corporation timely by the critical evaluation and ass...
Preliminary Analytical Review Introduction An audit planning (ASA 300) report has been prepared for one of the small companies. The trial balance of the entity has been given and based on the same the preliminary analytical review has been done. As a part of the audit procedures, the materiality level has been determined and also the common size income statement and the trend analysis has been prepared for the 2 given years to find out the m...
Overview of the Greater Sydney CommissionCommittee for Sydney is an institution deeply interested in the future of cities. Sydney is being reshaped under the leadership of Arcadis, a member of Committee for Sydney. It has changed the expectations of people regarding autonomous vehicles (AVs) and the change they’ll bring in the cities. These autonomous vehicles are going to have a great impact on the everyday life. They’ll be ab...
Introduction to ACFS LogisticsACFS is considered to be one of the largest privately-owned container logistics operators in Australia. Here, the facilities are generally seen to be located in the different port locations with maximising the quick and the efficient utilisation of wharf. It works with western facilities in Sydney and Melbourne, where the company is also focusing on using compliments for diversified clientele based metropolitan ar...
The Differences between Management Accounting and Financial AccountingManagement accounting is significantly different from financial accounting. Financial accounting is more concerned about the reporting aspect from a compliance and regulatory point of view whereas management accounting is mostly related to planning, cost management and decision making. An analysis of historical data is done mixing it with future projections to come up with a...
Description of PentalActivity-based budgeting is a budgeting framework that is designed to manage the company’s overheads and create greater transparency in the budget processes. This report brings out the practical implication of Activity-based budgeting in the organisations. The organisations have been experiencing elimination of wasteful resources by using this method. Moreover, the companies have abandoned following the traditional m...
Cash Flow from Operations Computation of cash cycle (JB Hi-Fi) Cash show statement (JB Hi-Fi –Annual Report FY2017) Cash flow from operations – A significant increase in the cash flows generated from operations is apparent in FY2017 which is the result of acquisition of “The Good Guys”. As a result, the customer receipts have surged which despite being partly annulled by rising payment to suppliers and employees stil...
Materiality: Definition and CalculationMateriality is one of the most important element of the audit report of any company. It is covered by ASA 320, which states that materiality is very important for the overall audit planning by the auditor. Any kind of misstatements, omissions and errors are material in nature if they have any effect on the financials of the company and might end up affecting the overall decisions of the user of financia...
ASA 315, Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and EnvironmentWith the changes in time and applicability of the accounting standards, each and every auditor should undertake the possible auditing and accounting works. With the increasing complexity in the accounting and reporting frameworks, auditors have played pivotal role in the financial reporting compliance of company. The governance...
Activity Based Costing ACTIVITY BASED COST REPORT PARTICULARS ARCHITECTURE FIRMS WINDOW TREATMENTS TOTAL TOTAL OF BOTH THE OPERATIONS ADAMS BETZ TOTAL CHATHAM DEDHAM ELM Direct Costs 147000 117200 264200 218400 115720 57040 391160 655360 Overhead Costs (WN1) 85100 136160 ...
Dick Smith's history and networkDick Smith was an Australian based retail company for dealing with the products related to consumer electronics. It sells wide range of products in 4 categories that is mobility, office, entertainment and various other services and products. It had 2 segments – Dick Smith New Zealand and Dick Smith Australia. Its store network includes more than 393 stores all over Australia and New Zealand (Dicksmith Au...
SWOT AnalysisThis report includes brief evaluation on case assessment of “The business,” which is assumed as strategic management system that is specialised in the retailing home improvement and outdoor living products. In the report with the development of different strategic tools and techniques, the market performance, and estimate, increase in performance are evaluated and analysed. The major objective of the report is to dev...
Types of Physical Assets in Work Organizations In a work organization as well as in a training institute generally the following physical assets can be identified: Plant and equipment. Motor vehicles. Air conditioner. Water purifier (Haggerty al. 2017). Two primary reasons to maintain asset registers are: Asset register helps an organisation to keep track of its assets a...
Explanation of the Purpose of the Studies pertaining to Activity Based CostingActivity Based Costing is an accounting method which analyses and allocates the costs to the activities of overheads which is followed by the allotment of costs to the products. It identifies the relationship between the costs, activities of overheads and the manufactured product. With the help of this relationship, it allocates the indirect costs to the products les...
Limitations of Traditional Management Accounting PracticesControl, compliance along with competitive report serves as vital aspects that have facilitated in development of the management accounting practice. Such tradition process of carrying out management accounting practice has certain limitations that includes that they just focus on the financially based business performance measures so that the financial perspective has a considerably in...
Step 1: Understanding the curriculum contextCompleting this audit will take approximately 2-3hours. As you are using this tool to evaluate your current historical skills, knowledge and conceptual understanding, you should complete this without conducting any ‘research’ (internet or textbook searches!). There are several steps in completing this ‘audit tool’. Please note this is an indicative tool ONLY – it does ...
Question 1: Use Classical Political Economy Theory to explain JB Hi-Fi’s decision to release its profit downgrade in the way it did. Make sure you explain what Institutional Theory is, and support your observations with evidence from the case study. Classical Political Economy Theory can be effectively used to explain the decision of JB Hi-Fi to release its profit downgrade through expounding on crucial attributes prese...
Addressing the Financial ConstraintAll the mining companies and the other companies, in general, face many constraints which tend to limit their production. For the companies to achieve their desired results, they must come up with some ways which will help them to address these constraints. The major constraint which limits the production of companies is the capital or the financial constraint since for any company to operate at its maximum c...
Background1: Your answer is written here. According to the classical political economy theory adequate relevant measures needs to be conducted by individuals and organisations for minimising the implementation of regulations by governments. The classical political economy theory directly explains the relevant measures that needs to be taken by organisations in the current era for nullifying the responses from appropriate authority such as ASX....
