ACCT1054 Week 4
Financial Accountability & Reporting
Define intangible assets, R&D and goodwill
Describe and explain the accounting treatment
of intangibles, R&D and goodwill
Asset recognition or
ACCT1054 Financial Accountability and Reporting
Mid-Semester Test Revision
The AASBs responsibilities include:
A. Developing accounting standards that have the force of law under The Corporations
Act and formulating standards to be used by the
Provisions, Contingent Liabilities and
Federal Register of Legislative Instruments F2015L01607
Obtaining a copy of this Accounting Standard
This Standard is available on the AASB website: www.aasb.gov.a
CHAPTER 10: ACCOUNTING FOR LIABILITIES
WORKED EXAMPLE 10.1: Recognition of a contingent liability
During 2013, Mark Richards Limited, whose reporting period ends on 30 June each year,
guarantees the bank overdraft of Shawn Thomson Limited. At the time of
Students at the end of the chapter should be able to:
Explain the function of the ledger accounts.
Understand the Double Entry Rule in Accounting.
The ledger accounts
The Double Entry
Financial Accountability and Reporting Course guide
Financial Accountability and Reporting is a compulsory core unit in the Bachelor of Business
(Accountancy) and the Bachelor of Business (Professional
Quiz name: On-line quiz practice
General purpose financial reports comprise:
Statement of financial position and Income statement
Cash flow statement and notes
Statement of changes in equity
All of the above
What are two key
RULES ON DOUBLE ENTRY
D A X
L E R
LIABILITIES EQUITY REVENUES
1/1/2006 David contributed cash, $400,000 into his business, David
a) What items are affected?
b) How are the items
FA&R - Topic 9
MR Limited commences operations on 1 July 2014 and presents its first income statement and first statement of financial position on 30 June 2015. The statements are prepared before considering taxation.
The following information
QUESTION 11: STANDARD COSTING & VARIANCE ANALYSIS
Part a) to c)
Total per unit
DM purchased (18,000
DM used in metres
= $2.50 per
5-34 (25 min.) Weighted-average method, assigning costs:
1. & 2.
Solution Exhibit 5-34A (below) shows equivalent units of work done to date for Bio Doc
Company for direct materials and conversion costs.
Solution Exhibit 5-34B (on the following page) summa
QUESTION 13: PRICING
Determine the following;
Mark-up based on variable cost;
Selling price per lampshades to earn the required
return on investment?
Required profit per unit
International convergence of accounting standards is a major priority of both the International Accounting
Standards Board (IASB) and the Australian Accounting Standards Board (AASB). The IASB is nearing
completion of a lengthy project to converge its maj
COOL SKI LIMITED (VICTORIA)
SKI AND SNOWBOARD PRODUCTS
Table of Contents
2.1 Standard Cost Systems and Variance Analysis.4
2.2 Flexible Budget.
COOL RIDE SKIS LTD
Cost Analysis and Application
(Tute 15 Thu 10:30 Group 9)
Tutor Name: Sarath Lal Ukwatte Jalathge
Table of C
ACCT1014 Accounting Behaviour and Organisations
Semester 2, 2016
Exam Information and Checklist
The exam is worth 50% of total marks for this course.
The exam has 3 questions, each with a number of parts.
The format of questions is sim
~ EXPLAIN HOW EVIDENCE SUPPORTS THE PARTICULATE THEORY OF MATTER;
~ DISTINGUISH AMONG THE THREE STATES OF MATTER;
~ EXPLAIN THE CHANGES BETWEEN THE THREE STATES OF MATTER IN TERMS OF ENERGY AND
ARRANGEMENT OF PARTICLES.
QLD & NT
WA & SA
WHOLESALE COST PER CAN
Number of Drinks sold (number of 300 ml cans)
MYER INVESTMENT STUDY
STUDENT ID : 3578820Contact : 0405335171
FINANCIAL / ECONOMICS.1
External economic environment risks.2
People management risks.3
Regulatory and compliance risks.3
Strategic and business plan risks.
Analysis of the Trial
A successful trial of fruit juice products throughout regions in Australia, Colin wishes to further
expand into the non-alcoholic beverage market and has conducted a four month trial of mixer
drinks. The trial was conducted in associ
Tutorial 11 Open macroeconomics (Chapter 31)
To be conducted in Week 12
1. When an Australian exporter sells software to France and uses the proceeds to buy stock in a
French company, Australian exports _ and there is a capital _ from Australia.
Trade off btw inflation and unemployment:
In short run (upward sloping supply curve), when aggregate demand increases and shifts
right, both equilibrium price level and GDP increases.
This means govts. Aiming to use expansionary fiscal or m