Categories
Uncategorized

ACCT19061 Advanced Financial Accounting : Sunderland Ltd

$20 Bonus + 25% OFF

Securing Higher Grades Costing Your Pocket?
Book Your Assignment at The Lowest Price
Now!

Students Who Viewed This Also Studied

ACCT19061 Advanced Financial Accounting

Questions:

Objectives

This assessment item relates to the following unit learning outcomes:

  • Interpret the technical requirements and conceptual aspects of selected accounting standards that address advanced issues in financial reporting.
  • Exercise professional judgement to apply the requirements of relevant accounting standards and conceptual accounting knowledge to solve advanced accounting problems.
  • Justify and communicate accounting advice and ideas in straightforward contexts to influence specialists and non-specialists.
  • Reflect on performance feedback to identify and action learning opportunities and self-improvements.

Question 1 20 marks

Sunderland Ltd is a large Australian retail company. The management of Sunderland Ltd are currently evaluating a number of investments that could be made by the company in the near future. These investments are:

  • Purchase 10% of the issued shares of Genesis Ltd as a long-term investment. Genesis Ltd is a successful company that has been very profitable over the past five years. Because it is expected that profits will continue to increase in the future, Genesis Ltd’s share price has been steadily increasing along with dividend payments.
  • Purchase 40% of the issued shares of Bio Tech Ltd as a long-term investment. Bio Tech Ltd is also expected to be profitable in the future and its share price is expected to increase.
  • Purchase the assets and liabilities of DigiTech Ltd for cash. DigiTech Ltd has developed new digital technology that it has patented. Sunderland Ltd believes that obtaining this patented technology would give it a significant competitive advantage.
  • Purchase 80% of the issued shares of Omega Ltd as a long-term investment. Omega Ltd has a number of very valuable customer contracts. In addition, access to Omega Ltd’s retail outlets would benefit Sunderland Ltd’s proposed plans for expansion.

Required

The management of Sunderland Ltd has asked you, as one of the company’s accountants, to prepare a memorandum to be distributed to the company’s shareholders that explains the accounting requirements for each of these investments. As part of your answer, you should:

  • Explain whether the profit from each company would be recognised by Sunderland Ltd and, if so, how would it be recognised.
  • Make any necessary references to the relevant accounting standards.

Question 2  5 marks

AASB 15 Revenue from Contracts with Customers is an important standard for accountants to understand because it establishes the principles that an entity applies to determine the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. This standard is the international equivalent of IFRS 15 Revenue from Contracts with Customers.

AASB 15 Revenue from Contracts with Customers is available from the AASB website:

http://www.aasb.gov.au/Pronouncements/Current-standards.aspx.

Required

(a) Use an internet search engine (for example, Google) to find two documents that you consider to be useful in gaining an understanding of AASB/IFRS 15 Revenue from Contracts with Customers. Your documents may be:

  • A document from the web (for example, a pdf document published by an accounting firm such as Ernst & Young),
  • A webpage, or
  • A video.

You do not need to include the documents with your answer, but you do need to include: name of document, type of document, author, date, and the link to the document.

You should not include AASB/IFRS 15 Revenue from Contracts with Customers as one of your documents. In addition, you should not include any document that merely summarises AASB/IFRS 15 Revenue from Contracts with Customers.

(b) Explain why these two documents would be useful to you in gaining an understanding of AASB/IFRS 15 Revenue from Contracts with Customers. For example, the explanations may be clear and concise, there may be useful diagrams and examples.

(c) Identify two other activities that you would use to gain an understanding of AASB/IFRS 15 Revenue from Contracts with Customers in addition to using documents found from an internet search.

ACCT19061 Advanced Financial Accounting

Answer in Detail


Solved by qualified expert

Get Access to This Answer

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

22 More Pages to Come in This Document. Get access to the complete answer.

Homework worries can become a thing of the past when MyAssignmenthelp.com is here. Our 3000+ highly qualified expert writers provide online assignment help related to homework in any academic subject. You can avail academic assignment help related to homework, custom essay or dissertation in any subject. Due to our assignment help services, the entire job of completing a tedious homework can become a smooth process. Students from US, UK and Australia can contact us to avail homework help. We operate a 24/7 live chat system through which you can clear any homework related query. Trust us as our highly qualified writers will deliver the homework help material prior to the deadline.

More acct19061 ACCT19061 Advanced Financial Accounting: Questions & Answers

Management

This assessment item relates to course learning outcomes 5 and 7 as stated in the Course Profile. This assessment will also help you to gain or improve your generic skills in areas such as working with others, written communication, and accounting software usage. Assessment task This assessment must …

View Answer

ACC702 Managerial Accounting

You are required to evaluate the investment using the following appraisal methods net present value internal rate of return payback period. For each appraisal method state with reasons whether the project should be accepted or rejected. …

View Answer

ACCT303 Strategic Management Accounting

Question:
For this assessment you should choose one of the following companies and answer the questions with reference to the company selected:
Starbucks
Aveo Group
Cimic Group Limited
Coca Cola Amatil
Qantas Limited
Slater & Gordon Limited
This assessment is concerned with evaluat …

View Answer

BBUS12 accounting for managers

a) Describe the general purpose of the statement of comprehensive income. Inaddition, explain the terms income and expenses as defined by the ConceptualFramework for Financial Reporting
b) Describe the general purpose of the statement of financial position. In addition,explain the terms asset, lia …

View Answer

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the
content removal request.

Choose Our Best Expert to Help You

Ayden Watkins

I have acquired Master’s degree in ancient history from the University of Edinburgh

230 – Completed Orders

Hire Me

Still in Two Minds? The Proof is in Numbers!

38983 Genuine Reviews With a Rating of 4.9/5.

Business Law

Assignment: 1 Page, Deadline:
20 days

Good work but there missing w6 answer. moreover i think few questions required explanation i think can explain little more.

User ID: 8***63 Australia

Civil Law

Home Work: 6 Pages, Deadline:
7 days

Assignment delivered before the deadline. Great work by the team and appreciate the support.

User ID: 8***13 Canberra, Australia

Economics

Assignment: 3.2 Pages, Deadline:
3 days

The assisgnment was properly written with great content and structure. Thank You for the assistance.

User ID: 1***22 Canberra, Singapore

Management

Home Work: 2 Pages, Deadline:
9 days

I am glad to use assignment help. I get nice assignment help from the different trainers.

User ID: 4***45 Canberra, Australia

Psychology

Thesis: 1 Page, Deadline:
6 days

I am very satisfied the work your company does. My papers have never looked so good. Thank you very much for this.

User ID: 8***47 Canberra, Singapore

Management

Essay: 4.4 Pages, Deadline:
18 hours

Thank you for the effort of both the author and the expert. Thank you for the effort. The topic is excellent, and I hope to continue at this high leve …

User ID: 9***3 Canberra, Kuwait

HRM

Assignment: 3 Pages, Deadline:
4 days

very good paper, all aspects covered by the author, which was not easy given the scope

User ID: 3***61 Budapest, Hungary

Management

Home Work: 2 Pages, Deadline:
15 days

The information provided is very clear and used good examples and references. There are no grammatical mistakes at all and the standard of writing is …

User ID: 7***15 Berlin, Germany

Nursing

Assignment: 1 Page, Deadline:
5 days

Thank you for the quality assignment , I always trust and get good mark from assignment help . Thank you for helping .

User ID: 4***73 Berlin, Australia

Healthcare

Assignment: 8 Pages, Deadline:
3 days

I have passed my assignment. I got my assignment back on time. Thank you very much.

User ID: 6***42 Berlin, Australia

Psychology

Essay: 8 Pages, Deadline:
10 days

Good work. I will do business again. Great customer service. Greta expert…….

User ID: 8***51 Berlin, United Arab Emirates

Assignment

Home Work: 3 Pages, Deadline:
5 days

I love the work your company does. My papers have never looked so good. Thank you very much for this.

User ID: 5***00 Berlin, United States

Healthcare

Assignment: 4 Pages, Deadline:
5 days

I got a good grade on this paper thank you for help and I will order more papers

User ID: 7***29 Garden City, United States

Accounting

Programming: 2.8 Pages, Deadline:
3 days

like the work and the way of writing and the marks was good as i got 79 marks and i like the formate of the writing.

User ID: 6***31 Leichhardt, Australia

Management

Assignment: 7 Pages, Deadline:
5 days

the paper was well written and I passed thank you for your service I would pay again

User ID: 7***29 Garden City, United States

Economics

Assignment: 2 Pages, Deadline:
20 hours

The assignment was received on time and I have to check the assignment and will get back for the feedback thank you

User ID: 8***40 Vancouver, Canada

Accounting

Course Work: 0 Pages, Deadline:
11 hours

Everything was met and done perfectly! It hasn’t been graded but through the explanations, I was able to understand the assignment and how the expe …

User ID: 8***57 Vancouver, Canada

HRM

Assignment: 9 Pages, Deadline:
2 days

Got the great and satisfied result. Thank you the expert team. But the expert team need to write more real and work life example for each assignment i …

User ID: 4***0 Central District, Hong Kong

Management

Home Work: 9 Pages, Deadline:
2 days

Got the great and satisfied result for this assignment. Thank you the expert team, but give little suggest to the team, the assignment need to more re …

User ID: 4***0 Central District, Hong Kong

Management

Assignment: 8 Pages, Deadline:
8 hours

Really impressed by your work. the report really good. all the points are detailly explained and the report format looks great.

User ID: 4***87 Melbourne, Australia

Business Law

Assignment: 1 Page, Deadline:
20 days

Good work but there missing w6 answer. moreover i think few questions required explanation i think can explain little more.

User ID: 8***63 Australia

Civil Law

Home Work: 6 Pages, Deadline:
7 days

Assignment delivered before the deadline. Great work by the team and appreciate the support.

User ID: 8***13 Canberra, Australia

Economics

Assignment: 3.2 Pages, Deadline:
3 days

The assisgnment was properly written with great content and structure. Thank You for the assistance.

User ID: 1***22 Canberra, Singapore

Management

Home Work: 2 Pages, Deadline:
9 days

I am glad to use assignment help. I get nice assignment help from the different trainers.

User ID: 4***45 Canberra, Australia

Psychology

Thesis: 1 Page, Deadline:
6 days

I am very satisfied the work your company does. My papers have never looked so good. Thank you very much for this.

User ID: 8***47 Canberra, Singapore

Management

Essay: 4.4 Pages, Deadline:
18 hours

Thank you for the effort of both the author and the expert. Thank you for the effort. The topic is excellent, and I hope to continue at this high leve …

User ID: 9***3 Canberra, Kuwait

HRM

Assignment: 3 Pages, Deadline:
4 days

very good paper, all aspects covered by the author, which was not easy given the scope

User ID: 3***61 Budapest, Hungary

Management

Home Work: 2 Pages, Deadline:
15 days

The information provided is very clear and used good examples and references. There are no grammatical mistakes at all and the standard of writing is …

User ID: 7***15 Berlin, Germany

Nursing

Assignment: 1 Page, Deadline:
5 days

Thank you for the quality assignment , I always trust and get good mark from assignment help . Thank you for helping .

User ID: 4***73 Berlin, Australia

Healthcare

Assignment: 8 Pages, Deadline:
3 days

I have passed my assignment. I got my assignment back on time. Thank you very much.

User ID: 6***42 Berlin, Australia

Psychology

Essay: 8 Pages, Deadline:
10 days

Good work. I will do business again. Great customer service. Greta expert…….

User ID: 8***51 Berlin, United Arab Emirates

Assignment

Home Work: 3 Pages, Deadline:
5 days

I love the work your company does. My papers have never looked so good. Thank you very much for this.

User ID: 5***00 Berlin, United States

Healthcare

Assignment: 4 Pages, Deadline:
5 days

I got a good grade on this paper thank you for help and I will order more papers

User ID: 7***29 Garden City, United States

Accounting

Programming: 2.8 Pages, Deadline:
3 days

like the work and the way of writing and the marks was good as i got 79 marks and i like the formate of the writing.

User ID: 6***31 Leichhardt, Australia

Management

Assignment: 7 Pages, Deadline:
5 days

the paper was well written and I passed thank you for your service I would pay again

User ID: 7***29 Garden City, United States

Economics

Assignment: 2 Pages, Deadline:
20 hours

The assignment was received on time and I have to check the assignment and will get back for the feedback thank you

User ID: 8***40 Vancouver, Canada

Accounting

Course Work: 0 Pages, Deadline:
11 hours

Everything was met and done perfectly! It hasn’t been graded but through the explanations, I was able to understand the assignment and how the expe …

User ID: 8***57 Vancouver, Canada

HRM

Assignment: 9 Pages, Deadline:
2 days

Got the great and satisfied result. Thank you the expert team. But the expert team need to write more real and work life example for each assignment i …

User ID: 4***0 Central District, Hong Kong

Management

Home Work: 9 Pages, Deadline:
2 days

Got the great and satisfied result for this assignment. Thank you the expert team, but give little suggest to the team, the assignment need to more re …

User ID: 4***0 Central District, Hong Kong

Management

Assignment: 8 Pages, Deadline:
8 hours

Really impressed by your work. the report really good. all the points are detailly explained and the report format looks great.

User ID: 4***87 Melbourne, Australia

Have any Query?

Get Homework Help Online From Expert Tutors

X
WeCreativez WhatsApp Support
Our customer support team is here to answer your questions. Ask us anything!
👋 Hi, how can I help?