The assignment is all about Gender Perception in Nonverbal Communication.
Question 1:
The regulatory environment for financial reporting
You are a member of a large accounting firm which Is responsible for preparing financial reports, Including statements and notes to the accounts; and for advising staff in client firms who are responsible for preparing financial reports. The firm only deals with large Australian companies listed on the Australian Securities Exchange. One of your key tasks Is to monitor the changes and developments in the financial reporting environment and summarise them In a regularly published newsletter.
Required:
Prepare a 2 page newsletter that Identifies and summarises developments and changes in the financial reporting environment for the period January - March 2016, Inclusive.
Question 2:
Preparation of a statement of financial position and statement of profit or loss and other comprehensive income.
The summarised trial balance of Smartles Ltd, a snack food manufacturing company, includes the following accounts at 30 June 2015:
Additional information:
• All assets other than accounts receivable, cash on hand and Inventories are non-current. All liabilities other than accounts payable, bank overdraft, provisions listed below and current tax liability are non-current.
• There was no movement in the general reserve during the year.
• Provision for annual leave Includes $7,000 payable within 1 year. Of the $8,000 annual leave expense recognised, $6,000 relates to the sales staff, and $2,000 relates to the administrative staff.
• Provision for long service leave includes $2,000 payable within 1 year. Of the $3,000 long service leave expense recognised, $2,000 relates to the sales staff, and $1,000 relates to the administrative staff.
• Smarties Ltd uses the single statement format for the statement of profit or loss and other comprehensive Income and presents an analysis of expenses by function on the statement.
Rationale:
The main aim of this assignment Is to help you further build up some of the skills and knowledge needed and valued by the accountancy profession. Accounting professionals need to make sure that they are aware of present developments and that their knowledge Is 'up to date'.