For this assessment, students are to prepare updated financial records for the acquisition of RDL Ltd by TMH Ltd (Information found in Appendix 1). Students are to complete the Balance sheet ending 30 June 2013 for TMH Ltd which doesn't include merger details. Students must then use the information provided to complete the Balance sheet for the new parent company following the merger,
Students are to prepare an updated balance sheet following the acquisition of RDL Ltd. by TMH Ltd. Students must:
• Undertake face to face or phone consultation with your instructor, who will role-play the part of management of TMH Ltd. to define any procedures you must follow as well as set timeframes and deadlines.
• Complete the worksheet provided in Appendix 1.
• Complete the year ending 30 June 2013 Balance sheet for TMH using the information provided.
• Systematically review, code and classify data as required and check for accuracy following policies set by your instructor and complying with AASB standards.
• Undertake conversion & consolidation procedures to compile the data (Using the merger method) and make comments as to appropriateness and ensure they meet AASB standards
• Calculate the amount of income tax for TMH for the year ending 30 June 2013. Take into consideration assessable and non-assessable items.
Including performing the following tasks:
- Calculate the amount of income tax expense for the year, using the derivative method that complies with Accounting Standard AASB1026/AAS28
- State the Profit before income tax
- State the Accounting Profit
- State the Profit after income tax.
Attachment:- Appendix.rar