Reference no: EM132122781

Question: 1. Company boards, executives, and management are investing more and more time and resources on issues of sustainability - such as carbon (greenhouse gas emissions), energy efficient technology, water use, cleantech, and biodiversity, to name just a few. An important part of the global push towards sustainability practices involves a need to account for, and report on, sustainability - sometimes referred to as environmental, social, and governance (ESG) reporting

"Corporate social responsibility (CSR) is an issue of growing interest, and the reporting of socially responsible activity is becoming more prevalent as investors, customers, and other stakeholders demand greater transparency about all aspects of business. As the importance placed by stakeholders on socially responsible behavior has increased, the attitude toward CSR has changed dramatically over the last few decades" (Kim, Park and Weir, 2012, p. 761).

Required: (a) Critically discuss the above statement.

(b) Identify a company which is listed on the ASX, collect recently published annual report from the company webpage and discuss what types of social responsibility information the company provides in the annual report? Do you think that your chosen company's CSR disclosures are adequate for the stakeholders of the company? (Please note that each group needs to select different company after consultation with the tutor).

Note 1: Word limit for Question 1 is 1,000.

Note 2: Professional marks will be awarded for format, clarity and expression.

Note 3: The presentation of Question 1 should include Introduction, Discussion, Conclusion and List of references.

Note 4: You will be able to obtain electronic copies of articles by visiting La Trobe University Library website.

2. (Word limit = 500 words)

Merinda Ltd commences its operations on 1 July 2017. One year after the commencement of its operations (30 June 2018) the entity presents its first Statement of Comprehensive Income and Statement of Financial Position on 30 June 2018. The statements are prepared before considering taxation. The following information is available.

Other information: • All administration and salaries expenses incurred have been paid as at year-end.

• The amount of $163,800 long service leave expense has been paid.

• The machinery is depreciated over 10 years for accounting purposes, but over 8 years for taxation purposes.

• Amounts received from sales, including those on credit terms, are taxed at the time of the sale is made.

• Warranty expenses were accrued and, at the year-end, actual payments of $50,400 had been made (leaving of accrued balance of $100,800). Deductions for tax purposes are only available when the amounts are paid and not as they accrued.

• Insurance was initially prepaid to the amount of $190,500. At the year-end, the unused component of the prepaid insurance amounted to $51,900. Actual amounts paid are allowed as a tax deduction.

• Merinda Ltd has some land which cost $1,470,000 and which has been revalued to its fair value of $2,268,000.

• The tax rate is 30 per cent.

Required:• Compute the taxable income or loss.

• Complete the Taxation Worksheet on the next page in accordance with AASB 112 Income Taxes.

• Prepare the applicable journal entries at 30 June 2018 to account for tax using the Balance Sheet method.

Information related to above question is enclosed below:

Attachment:- GroupAssignment.rar