Answer: Inappropriate Accounting standards at FujiFilm: The company violated the “AASB 15 revenue from contracts with the customers” as Fuji Film Xerox constantly overstated the receipts from the customers. Fuji Film Xerox did not measure the revenue from the contracts with its customers based on the amounts of the considerations to which Fuji Film Xerox was entitled to receive. This led the company to regularl...Read More
Question: Discuss about the Financial Reporting and Transparency in Corporate. Answer: Introduction Corporate governance and transparency are the major issues in the present market. Several incidences such as the collapse of Dick Smith have made the investors wary of the public offering and investment in public entities. Dick Smith Holdings Limited was a publically listed organization; therefore, it should have been more sec...Read More
Question: Discuss about the Company Accounting for ASX Corporate Governance Principles. Answer: Australia’s corporate governance and continuous disclosure framework is regarded the best in the world. This is the reason why it has also been adopted by various other jurisdictions. Moreover, the Corporations Law in Australia require organizations to keep the market informed of significant developments and there are negative co...Read More
Qustion: Discuss about the Deferred Tax Assets and Liabilities. Answer: Introduction: The title of the report is AASB 112 and analysis of financial statements. As the title suggests the main aim of the report is to understand the concept of the deferred tax assets and deferred tax liabilities. The purpose is to analyze the extent to which the disclosure relating to the Australian accounting standard has prescribed and second...Read More
Question: Discuss about the Financial Position and Operations System. Answer: Introduction: The memo aims to discuss some of the important aspects from the financial statements of Capilano and addressing of the same to the board of directors clearly stating about some of the technical issues in the consolidation process. The memorandum to the board of directors has included the specific intricacies of the consolidation to th...Read More
Questions: 1. Does the group have any foreign currency transactions? Any foreign subsidiary companies How have they been accounted for in the financial statements? 2. Any other relevant matter that you may wish the board of directors to make note of in respect of some transaction or event, balance of account or disclosure that will assist them in understanding the financial statements of the group? Answers: 1. Foreign curren...Read More
Question: Discuss about the Receiving and Referring for Investigation Statutory Reports. Answer: Introduction: We would like to represent on you on the company accounting system made on the recommendation and feasibility report. In this report I am discussing about the company sources of findings as well as company’s policy on corporate governance as well as also provide the suggestion. &nb...Read More
Question: Discusss about the Company Accounting for McCarthy’s Cafes Ltd. Answer: To, Mary McCarthy Managing Director, McCarthy’s Cafes Ltd, Suite 6889, Level 18, Cafe Plaza Building, 685 Charles Street, Adelaide SA 5000 Respected Madam, At first I would like to thank you for asking us to assist you in the process of making decision regarding various relevant sources that would guide the accounting team of th...Read More
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