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REQUIRED:
(1) Complete the Luxe Leather Bags Pty Ltd Accounting Practice Set online on LMS as per the general instructions contained in this document.
(2) A major competitor in the industry is Oroton Limited. They are retailers of top end leather bags and accessories to consumers. The Managing Director of Luxe Leather Bags Pty Ltd, Kent Cognac, has asked you to refer to the 2016 Oroton Limited Annual Report (which is available on LMS) and write him a report which addresses the following matters.
(i) Who do you consider to be the main user groups of Oroton Limited Annual Report. What types of decisions would these users make based on the different information contained in the Annual Report document ?
(ii) Comment on how assets such as Inventories and Property, Plant & Equipment are valued in the accounts of Oroton Limited ?
(iii) Explain the difference between a Current Liability and a Contingent Liability. What types of Current & Contingent Liabilities does Oroton Limited have in its financial statements ?
The report that you prepare for Kent Cognac should be no more than 800 words in length. (All references are to be shown using the Harvard style.)
Attachment:- Leather Bags Pty Ltd ledgers and other financial reports.rar
Verified Expert
This solution was based on preparation of ledger accounts, financial statements and report. All the present contents are in accordance with the given and said instructions there in the assignment and rubrics and were free from plagiarism. Word count total of this solution is more than 1,200 words. The final solution to this assignment is submitted in Microsoft Office word document file in Times New Roman 12 font size.
Requirements (1) and (2) need to be completed online on L MS and be submitted by no later than Monday. [Only one online submission per Group is required. The aggregate marks allocated to requirements (1) and (2) are 20%. Of this total mark, approximately 2/3 of the marks relate to the Accounting Practice Set and 1/3 of the marks are allocated towards the Written Component
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