Answer: Question 1 Straight Line Method 2012 2013 2014 2015 2016 2017 Cost of Truck 65000 Residual Value 5000 Depreciation ...
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Question: Explain the importance of both integrating sustainability into business and sustainability reporting utilising both the “Guide” and the relevant accounting literature. Answer: Introduction: A sustainability reporting guide has been developed by Bursa Malaysia that has the objective of providing assistance to users in making improvement to their sustainability related disclosures for addressing the evolv...
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Question: Discuss about the Fundamentals of Corporate Finance for General Topics. Answer: Introduction This report discusses the impact that the AASB 17 has had on leasing firms in Australia. The report reviews and critically analyzes the article by Churyk, Reinstein and Lander(2015). The fundamental characteristics of financial information include a variety of qualitative aspects that a firm should meet to be considered to ha...
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Question: Discuss about the Financial Accounting And Intangible Assets. Answer: The intangible assets are the assets those are not physical by nature. The corporate property in the nature of intellectual those include trademarks, patents, business methodologies, brand recognitions, goodwill and copyrights are regarded as intangible assets. as per AASB, the intangible asset is recognized only if (i) it is expected that the econo...
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Question: Discuss About The Adverse Uniform Written Reporting Standards? Answer: Introducation Measurement and bureaucratic processes helps generate economic measurements that provide a scale that is used in accounting to assess profit or loss made by a company. Therefore calculations are not generally based on hypothesis or guesswork since an already established measuring scale is used. In addition, these measuring instruments ...
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Question: Discuss about the Depreciation for Acquisition Value of the Asset. Answer: Depreciation refers to the reduction in the cost value of the fixed assets according to the depreciation method used. The aim is to allow the provision to be made equal to the amount of cost of fixed assets so that companies does not requires to expend much to purchase the new machine. (Hussey and Ong, 2017). Things to be considered for d...
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Question: Discuss about the Advanced Financial Accounting for Byrne Limited. Answer: Issues in Revenue recognition: The case is about issue of recognition of revenue of an organization for rendering services to their clients of non-cancellable contracts. It is the policy of company to have the full payment at the date of signing contract for overcoming dealing with clients who do not make payment. Byrne Limited is one of the c...
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Question: Discuss about the Advanced Financial Accounting for Lessee. Answer: Introduction Lease implies a contract between two parties in which one party agrees with the other to transfer the asset for use on payment of monthly lease rentals. The party which gives the asset on lease is called Lessor while the party which receives the asset for use is called Lessee (Nikolai, Bazley, & Jones, 2009). The lease involves speci...
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Question: Explain the manner in which AASB 6, with respect to exploration and evaluation expenditures, elaborates on the definition and recognition criteria for assets specified in the AASB Framework for the Preparation and Presentation of Financial Statements (the Framework).?To what extent are the AASB 6 rules for exploration and evaluation expenditures consistent with the asset definition and recognition criteria specified in the Framework? A...
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Question: What Is the Accounting Negative and Social Consequences? Answer: Introduction Entities for expanding their asset structure are frequently incurring liabilities and expenditures. The asset structure in a company comprises of tangible assets and intangible assets. The essay focuses on Intangible assets. Intangible assets are controlled by AASB 138 (Halim & Jaafar, 2012). Identification of negative and social consequ...
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Question: Discuss about the Negative as Well as Social Consequences of the AASB 138 for Intangible Assets. Answer: Introduction The AASB 138 was initially introduced in Australia by July 2004. This was mainly aimed at providing some standards on how numerous intangible assets are valued. Under this accounting standard, research has to be written off once they are incurred (Brahim and Arab 2012). With these considerations, this paper...
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Question: Discuss about the Corporate and Global Responsibility Report. Answer: Introduction Walmart leaders of the day – including Doug McMillon, who had become CEO of Sam’s Club a month prior to the disaster – set out comprehensive goals for the business to do more by making financial prospect through our jobs and acquisitions orders, ornamental the sustainability of our processes and our merchandises and...
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Question: Discuss about the Principles and Ethics Advanced Financial Accounting. Answer: Introduction: Financial accounting of the company should be prepared and presented by following the principles and standards on accounting for each of the components of financial information and transactions. The following assignment highlights the accounting issue in revenue recognition for a law firm Slater and Gordon that is based in ...
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Question: Discuss about the Revenue Recognition for Capitalization Structure. Answer: Introduction: The Salter & Gordon was one of the first law firms to be listed in Australian stock exchange. It was one of the largest Australian law firms and has a brand that is recognized by three out of four persons. The investors had high expectation on the profitability of the firm and were always interested that the key bottom lin...
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Question: Discuss about the Advanced Financial Accounting for Tower Insurance. Answer: Introduction Tower Insurance is a New Zealand based insurance company established in 1869 and headquartered in Auckland. This bank is listed in the New Zealand Stock Exchange and has performed well financially since its inception. This company trades as TWR ticker symbol in the stock exchange. This company provides insurance in case of fire ...
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