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Category > Accounting Posted 08 Dec 2017 My Price 10.00

Financial Accounting Business Report to Client

I need help with this report that is due in a few days.

1 Griffith University 2102AFE Financial Accounting Business Report to Client Trimester 1, 2017 Joe Doyle has recently received a substantial inheritance on the death of his mother. Joe wants to use this money to his advantage and invest it for his future because he would like to retire early. He is considering buying some shares in Woolworths Ltd because he thinks it would be a stable investment that would provide a good income stream in future years. Joe has been doing his own research on this company, however, he has some accounting-related issues he would like addressed before he makes the decision to go ahead with this investment. As you work for a chartered accounting firm specialising in small client consultancy, Joe has come to you for advice. The specific accounting-related issues raised by Joe are outlined below: 1. Joe is interested in Woolworths Ltd’s asset base because he knows that assets are important in the event of a company winding up due to bankruptcy or insolvency. a. In relation to Property, Plant, and Equipment, Joe has become aware that there are two ways to value these assets subsequent to their initial recognition, including the cost model and the revaluation model. He has noticed that Woolworths Ltd uses the Cost model. Compare and contrast these two measurement methods for Joe and provide a professional opinion of which measurement method provides more reliable information about Property, Plant, and Equipment values. Your professional opinion must be supported by valid arguments from sources that are reliable, reputable, and relevant. b. Joe has been following the yearly evaluation of the Woolworths Ltd brand published by Business Insider (provided on L@G). He has noticed that the value of the Woolworths’ brand reported in this article is significantly higher than the value of brand names reported in the Woolworth Ltd annual report. Outline for Joe why these two brand values are different. Identify and explain the reasons why the accounting requirements for internally generated intangible assets are very stringent. Identify and explain to Joe an example of a real-world company where intangible assets led to problems with the valuation of the company. Requirement 1 Prepare a 1,100 word Business Report for Joe whereby you fully address each of the issues he has raised, as outlined above, and advise Joe whether he is able to rely on the information about assets disclosed in Woolworths Ltd’s annual report. Explain why. Within this process you must ensure that you explain all relevant accounting terms because Joe’s knowledge of them is very limited. He must be able to understand your Business Report. Refer to the accounting standards where appropriate so that Joe knows the authority on the information. Requirement 2 Prepare a written reflection addressing the following:  Who in an accounting firm would provide the level of advice asked for above, to a client? Explain your answer (300 words maximum).  In considering your own career path, identify your own strengths and weaknesses entering in to a graduate accounting job (300 words maximum).
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CourseLover
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Status NEW Posted 08 Dec 2017 09:12 AM My Price 10.00

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