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1. a) What is the purpose of an entity?
b) What are the rights of the stakeholders of an entity?
2. a) Outline the legal duties that directors have to their company (in Australia)
b) Provide an example of a director that has not fully complied with these legal duties. What were the penalties involved? (Ensure you provide evidence via appropriate references you have obtained to support your answer).
3. One Tel Ltd and ABC Learning Centres Ltd were Australian companies that entered financial distress and were subsequently delisted from the ASX. Watch the CPA Australia videos found athttps://www.cpaaustralia.com.au/cps/rde/xchg/cpa-site/hs.xsl/knowledge-auditing-toolkit.html (the video is at the right hand side of the screen) andhttps://www.youtube.com/watch?v=YYF6JW9vJKo which discuss the downfall of these companies and then answer the following questions.
(a)For both One Tel Ltd and ABC Learning Centres Ltd, outline three warning signals that the financial statements and/or notes to the accounts revealed that would have indicated the company was at risk of financial distress? (your answer must explain which statement or note provides this information).
ending inventory calculation for each product amp as a whole.tanzy companys ending inventory includes the following
complete the following exercise. submit journal entries in an excel file and written segments in an ms word document.
What are Pace’s taxable income and income tax liability, assuming qualified production activities income is $55,000?
Prepare all necessary journal entries for the year 2014 and calculate the amount of gross profit that would be recognized each year from installment sales.
Calculation of ending inventory for interim financial statements - Ernst Equipment Co. wants to make interim financial statements for the first quarter. The company wishes to avoid making a physical count of inventory. Ernst's gross profit rate ave..
An extensive consultation paper has been provided to you related to the Conceptual Framework from the International Public Sector Accounting Standards Board.
lebron corp issues 5000 restricted shares to upper level executives on 1st january 2013 date of grant. the shares have
changes in variable costs fixed costs selling price and volume.changes in variable costs fixed costs selling price and
Determine the importance of knowing one's liquidity needs when planning to invest. Support your position
Explain the relationship between a profession and a code of ethics and deescribe what a code of ethics/conduct/ professional behavior is and why is it important
Identify two listed companies: one from Australian Securities Exchange (ASX) and the other from New York Stock Exchange (NYSE); and analyse the accounting policy statement in their annual reports for the reporting year 2012
What is one of the analytical procedures commonly used when auditing accounts in the inventory and warehousing cycle? Why do we use this procedure (i.e., what does it tell us)?
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