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The regulatory environment for financial reporting You are a member of a large accounting firm which is responsible for preparing financial reports, including statements and notes to the accounts; and for advising staff in client firms who are responsible for preparing financial reports. The firm only deals with large Australian companies listed on the Australian Stock Exchange. One of your key tasks is to monitor the changes and developments in the financial reporting environment and summarise them in a regularly published newsletter. Required: Prepare a 2 page newsletter that identifies and summarises developments and changes in the financial reporting environment for the period 24 July 2014 - 22 August 2014, inclusive.
Is the above variance report useful for evaluating how well revenues and costs were controlled during April? Why, or why not?
The machinery has an expected life of 10 years. Lu Limited has an incremental borrowing rate of 10%. Lu has been told that the interest rate implicit in Lease 1 is 8%. D raw an entry to record exercise of the bargain purchase option.
Determine the simple rate of return on the new automated bottling machine.
Find out the balance of the unearned revenue liability to be reported in the December 31, 2010, balance sheet. Show the relevant T-account information to support your answer.
Determine the effect on net income and earnings per share for these two methods of financing and prepare journal entries to record the events - The issuance of the bonds
merchandise inventory increased $18,000; prepaid expenses decreased $6,200; accounts payable increased $3,400. Compute the net cash provided or used by operating activities.
Purpose a cash Budget for the first two quarters and make an operating budget for the first and second quarters of operations of Terry's Equipment Center.
What would be effect on the company's overall net operating income of dropping product S85U? Should the product be dropped?
The green plant produced 850,000 gallons in June. The plant never has any beginning or ending inventories. Compute the cost per gallon of liquid cleaner produced in June.
comparison between consumer price index cpi amp producer price index ppi and estimation of items current price.1. you
Evaluate the percentage change in sales and net cash flow
Advise the Management Committee of Barmunda Pty Ltd as to whether the company would be considered a reporting entity in accordance with SAC 1 ‘Definition of the Reporting Entity.
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