ACCOUNTING INFORMATION FOR MANAGERS (AIM XXXXXXXXXXTerm 3 2012Individual Assignment - 15%Objectives:...

Question

ACCOUNTING INFORMATION FOR MANAGERS (AIM XXXXXXXXXX
Term 3 2012
Individual Assignment - 15%
Objectives:
The individual assignment is intended to provide students with:
1.     The opportunity to work in a collaborative environment to:

· develop simple research and analytical skills.

· document findings in a professional and business like manner.
2.     Exposure to cu
ent and topical accounting and business issues.
Task:
Based on the following questions as presented on page 2 you are required to answer the following questions which should total 500 – 750 words.
You must include any references you have used and cited in your questions. You must use the Harvard referencing system as per the guide available from the li
ary website. (Note: the reference list is not included in the word count).

Submission information
This assessment task is to be submitted to your tutor at the beginning of your tutorial in Week 9 (i.e. week commencing 17 December XXXXXXXXXXA submission of no more than 750 words is expected (excluding the reference list). It must be word processed in either Times New Roman or Arial font, 12 pitch and double spaced with a footer including your name, student ID and page number. Your assignment should be firmly stapled in the top left-hand corner. Do not use folders or plastic sleeves. The following items need to be included in the order listed:
1. ‘Individual Assignment - Cover sheet and Declaration form’(page 3), fully completed and signed;
3. Your assignment with reference list.
Please note that students are required to keep a copy of all written work submitted.
Questions:
1. (a) What is the purpose of an entity? (4 marks)
(b) What are the rights of the stakeholders of an entity? (5 marks)
2. (a) Outline the legal duties that directors have to their company (in Australia). (5 marks)
(b) Provide an example of a director that has not fully complied with these legal duties. What were the penalties involved? (Ensure you provide evidence via appropriate references you have obtained to support your answer). (6 Marks)
3. One Tel Ltd and ABC Learning Centres Ltd were Australian companies that entered financial distress and were subsequently delisted from the ASX. Watch the CPA Australia videos found at http:
www.cpaaustralia.com.au/cps
de/xchg/cpa-site/hs.xsl/knowledge-auditing-toolkit.html (the video is at the right hand side of the screen) and http:
www.youtube.com/watch?v=YYF6JW9vJKo which discuss the downfall of these companies and then answer the following questions.
(a) For both One Tel Ltd and ABC Learning Centres Ltd, outline three warning signals that the financial statements and/or notes to the accounts revealed that would have indicated the company was at risk of financial distress? (your answer must explain which statement or note provides this information). (10 marks)
INDIVIDUAL ASSIGNMENT – COVER SHEET & DECLARATION FORM
700005 ACCOUNTING INFORMATION FOR MANAGERS – Term 3, 2012
Tutor:                             Tutorial Time:
Tut Day:                             Due Date:
    Family Name
    Given Name
    Student No.



Declaration:
I hold a copy of this assignment if the original is lost or damaged. I hereby certify that no part of this report has been copied from any other student’s work or from any other source except where due acknowledgement is made. No part of the report has been written for me by any other person except where collaboration has been authorised by the Unit coordinator. I am aware that this assignment may be reproduced and submitted to plagiarism detection software programs for the purpose of detecting possible plagiarism (which may retain a copy on its database for future plagiarism checking).
…………………………………………………….             …../…./……
Student signature                             Date
Note: An examiner or lecture
tutor has the right to not mark this assignment if the above declaration has not been signed.
For late assignments – Date/Time Received:
– Penalty Imposed (if any):
3

005_rkkvpk-ggj21nd5.docx

Robert · Accepted Answer

A) PURPOSES OF AN ENTITY
Businesses exit to serve customers. So customers are more important than any stockholders, the workers, or the management. Without customers, there is no business. So the main purpose of the business organization is to serve and satisfy its customers. The organization’s vision statement provides the future state of the organization to strive to reach. With the good leaders in the organization, it will create synergy and vision.
However, in the beginning and in the unstable condition, the purpose of the organization will be to survive. There should be shared vision and values. It must have a mission statement and commitment to the mission at all levels of the organization. This mission statement prevents the organization from being distracted and sidetracked. It will focus on the energies and resources of the organization. Workers and their knowledge are the resources of the organization. This will make a healthy environment in the team and keeps the organization strong and success.  It is not the friendship; it is a different type of relationship that makes any organization special and success. The team should be aligned. There will be wasted energy in an unaligned team in the organization. But when a team becomes more aligned, a commonality of direction emerges, and individuals’ energy harmonize. There will be less wasted energy. For this the organization has to learn. It is only possible through individuals who learn. Individual learning does not guarantee organizational learning. But without it no organizational learning occurs and there will be no progress.
In any business organization, customer’s faith is the most valuable property. Customers are the kings in the field of business. It should focus on following three factors.
1. Responsiveness:
The organization should be able to respond quickly to meet the customer’s needs. The lagging time i.e. the management time should be minimized. The less the time lag, the quicker will be the responds so the better will be output. The customer’s needs also vary. It changes with the passes of time and the services of the organization. So the organization, too, has to develop accordingly.
2. Reliability:
There should be reliability to meet the commitment made to the customers. Commitment to the customers should not be made lightly. It should be the highest priority of the business and should always be meet.
3. Design with Quality:
The goods and services delivered to the customers should be in new design with quality. Nothing is constant in the world, except change. And people forget about the price with the passes of time, but quality remains so long as it does exist. The production should not be considered as a sold production as soon as it is bought by a customer, it is sold only when it is bought and satisfied the customer.
The above three factors - responsiveness, reliability, and quality design, are just like the three wheels of a tri-wheeler automobile. Each factor is equally important to make any business organization strong and success. Comments and suggestions, from the customers, are always to be listened. It helps the organization to track the right path. Open-door policy in the organization makes every employee feel comfortable to work.
B) RIGHT OF STAKEHOLDER
Common Shareholders' Six Main Rights
1. Voting Power on Major Issues 
This includes electing directors and proposals for fundamental changes affecting the company such as mergers or liquidation.

ACCOUNTING INFORMATION FOR MANAGERS (AIM XXXXXXXXXX Term 3 2012 Individual Assignment - 15% Objectives: The individual assignment is intended to provide students with: 1. The opportunity to work in a...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment