Posted inUncategorized

Assume that you are a team of graduate accountants working for Epic Group Ltd, an independent consulting & accounting firm situated at 369 Sunshine Avenue, Brisban

Assume that you are a team of graduate accountants working for Epic Group Ltd, an independent consulting & accounting firm situated at 369 Sunshine Avenue, Brisbane, QLD 4000. The Manager of your firm, Ms Diana Keaton, has asked you to draft a letter in response to an email received from Mr Hugh Jackson, the CEO of Kalender Group Ltd (a public company), raising accounting issues – see the copy of the email on the next page. The maximum length for the body of the letter is 1,500 words. You should address all the technical issues/discussion in the statement of advice, followed by a Reference List. • Part A: Technical component 24% – This mark covers the technical content of your advice and the explanation on each of the issues, the calculations (if any), and the sources used. • Part B: Communication Skills 6% – This mark covers the generic skills of letter writing; layout, clear meaning, structure and organisation, appropriate tone and grammar, spelling, and punctuation, etc., throughout the whole assignment, Re: Accounting Issues: Year Ending 30 June 2021 From: Hugh Jackson Sent: 15 November 2021 To: Diana Keaton Dear Diana Thank you for your time this morning. As discussed, I would like you to provide advice on the following issues which came up in the most recent board meeting. We have recently restructured our senior management team, including a number of board members. With the change in management, we thought that everyone would benefit from a clear explanation of all the issues from the outset of our governance. Most of the board members, including myself, are not qualified accountants. Our company is quite diverse, with a number of subsidiaries that have been acquired over the years. For the benefit of all board members to understand, we would like a clear explanation of how the companies in our Group become consolidated into one set of financial statements. Even though we have a CFO who prepares all this information for our Group, we would like an independent explanation of the process, including the rules or regulations that should be applied. Our companies also trade between each other in our Group. We are concerned that these dealings are not allowed. Would you please explain how to deal with such transactions? The Board would also like to know how to account for a number of companies where we own 20% of their shares. We can’t see valuations for these shares in the accounts, and therefore we were concerned that they have been missed in our reports. Would you please explain where this information should be disclosed and how these investments are valued? Finally, the Board is quite concerned about the low value of goodwill in the Group accounts. Most of the companies in our Group have been trading for a long time. Other public companies have large Goodwill assets disclosed in their financial statements. The Board would like to know why our assets do not include a significant amount for Goodwill to represent our business value. Could you please advise the Board how to incorporate an increased amount of Goodwill into our financial statements for the upcoming Annual Reports? How can we maintain the value of the Goodwill in future? Would you mind responding by letter (not email) as I would like to present your views to our board? I look forward to hearing from you shortly. Regards Hugh Jackson 594 Attitude Terrace, Spring Hill, Q 4000

Related posts:

  1. Scope of Practice of LPN PRNRS 110 Scope of Practice Paper Fall 2022 The objective of this assignment is to examine one’s role as a practical nurse in ways that reflect integrity, responsibility, accountability, ethical practices, and an evolving professional identity as a nurse committed to evidence-based practice, caring, advocacy, and quality care. In 2-3 pages, discuss the nursing scope of practice for the State of Illinois. Give examples from your own practice and/or clinical experience. Use the links to Illinois LPN Scope of Practice and ANA Code of ethics to support your explanations. This Paper is Due by Monday September 19, at 0800 for ALL sections and is worth 45 Homework Points, See Rubric on page 2.
  2. Sexual Assault: Jessica Case Study
  3. Present a comprehensive overview of ADHD. Please include pictures Presentations should be presented via use of PowerPoint slides and answer the following questions:-What are the causes and characteristics of the disability?-How are students
  4. A brief history of tourism in your chosen location. For example, is your location a well-developed tourism destination with solid organization and continued growth, or is tourism a relatively new undertaking with little organization?
Last updated on