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Question

Answered

Task:

This assessment addresses the following subject learning outcomes:

a) Prepare consolidated financial statements and related accounting entries for incorporated entities.

b) Generate and communicate strategic recommendations in various inter entity relationship scenarios with reference to relevant accounting standards.

Part A Practical Problem Solving

a) Prepare the journal entriesfor Antara Ltd at 30 June 2020 to account foritsinvestment in Blanca Ltd, assuming Antara Ltd prepares consolidated financial statements. 

b) Prepare the consolidated statement of profit or loss and other comprehensive income for Antara Ltd for the year ended at 30 June 2020, assuming this statement includes Blanca Ltd’s financial results

Part B Recommendations

Prepare a report explaining and making recommendations on the financial reporting issues below.

a) The impact of change to preparing consolidated financial statements on Antara Ltd’s disclosure of financial information. 

Your response should include:      

1. The differences between applying the equity method of accounting in Antara Ltd’s own accounting records, and applying the equity method of accounting in Antara Ltd’s consolidation worksheet.  

The content of Antara Ltd’s relevant financial statement.

The extent of financial information available to Antara Ltd’s external users.

References to the financial information in Part A and relevant accounting standards.                    

b) Potential dividends paid by Blanca Ltd. This is because Blanca Ltd has been profitable and the company management plans to pay dividends to Antara Ltd.

Your response should include:

1. How dividends paid by Blanca Ltd are accounted for using the equity method of accounting.

2. How dividends are disclosed in Antara Ltd’s relevant financial statement.

ACCT6005 Company Accounting

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ACCT 3004 Avanced Management accounting

Calculate the annual running cost of the two plants, return on investment (ROI) and evaluate which seems more efficient from a financial perspective. What social and environmental factors might you also consider in assessing which plant should be retained (please list 3 in total)? What would be your ...

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Cost Accounting

1. Define Cost Accounting? Explain its Objectives and Classifications in detail?2. The following information has been obtained from the records of AJ Corporation Ltd for theperiod from January 1 to June 30, 2013. Prepare a Cost Sheet.PARTICULARS1. 1.2013$30.6.2013$Cost of Raw Materials 10,000 7,500C ...

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ACCT213 Cost Accounting

Questions:  CMI learning Outcomes Mapped with ILO’S A1,B1,B2,C1 1.      Understand the different types of costs 2.      Different costs for different purposes 3.  &n ...

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7AC006 Managing Financial Performance

You are required to produce an individual report based on your own independent work.Part 1 You are required to produce a financial analysis of Unilever plc group financial statements. For both the years 2015 and 2016. This analysis should assess the absolute level of and changes in profitability an ...

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