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Select a set of Financial Report of an ASX Listed Company. Read the Annual Report including the financial statements of the Group and prepare a Memorandum to the Board of Directors clearly explaining some of the technical aspects of consolidation. Make sure you draw on the company's specific details to explain the intricacies of consolidation to the Board and as much as possible avoid answering in general terms.
Some of the aspects that you need to cover in:
Question 1. Why did the parent entity have to prepare consolidated financial statements when the subsidiary company is a separate legal entity in its own right?
Question 2. Does the published set of group financial statements reveal the company's policy on corporate governance, Audit committees, Sustainability, Solvency? Does it reveal these issues and if so where and why?
Question 3. Has there been any goodwill on the acquisition? Or any gain on bargain purchase? Where would you find it in the financial statements and what does it mean? Any impairment?
Question 4. Any other relevant matter that you may wish the Board of Directors to make note of in respect of some transaction or event, the balance of account or disclosure that will assist them in understanding the financial statements of the group.
Wise Company had the following transactions - Issued 5,000 shares of common stock with a stated value of $10 for $130,000 - Prepare the journal entries to record the above stock transactions
Discuss the above quotation. Explain and evaluate the arguments for and against regulation. What is your opinion of the current level of accounting regulation?
Venus Cellular Limited ("Venus") is the leading, worldwide provider of a wide variety of telecommunications equipment and services.
Please indicate whether these are product or period costs?
Complete the required journal entries to record payroll on December 31, collection of rent on December 10 and the adjusting journal entry on December 31.
FUNDAMENTALS OF VALUE CREATION IN BUSINESS ASSIGNMENT - Analyses the company beyond the reported financial figures
What was the purchase price of the building? Write down all necessary adjusting journal entries for the end of December 2015.
Calculate ROI and ROE for Coca-Cola Co. and PepsiCo, Inc. for 2011. (Hint: You will need to calculate some of the numbers used in the denominator of these ratios.)
The adoption of a single set of financial accounting standards is important for multinational companies because: A single set of reporting standards should result in consolidated financial statements that are more comparable across organizations oper..
Prepare an income statement in good form for Rustic Company and Prepare a classified balance sheet.
North/South Airlines generated the following information from its financial statements: What are North/ South's (a) return on assets (ROA) and (b) total assets turnover?
What is the expected percentage return on this stock, and what is the return variance - What is the expected percentage return on this stock
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