Reference no: EM133185978
Assessment - Contemporary issues in Accounting theory
Article: In Australia there are more insolvencies in the construction sector than any other, and consumers are paying the price
Key points:
• The collapse of building company Privium has left some families with half-built houses
• A construction lawyer says the state government should do more to protect homebuyers
• Rising costs and labour shortages are contributing to a rise in insolvencies in the construction sector
Question 1: One of the key points raised in the article relates to the increasing costs and shortages of workers in the construction industry was leading to an increase in insolvencies for businesses in this industry. What other reasons for insolvency can you identify from the article? Apply and explain relevant theories (minimum five) in accounting to discuss your observations and how they relate to what you have identified.
Question 2: Outline the major stakeholders who would be concerned with the continuous collapse of construction companies. Provide an explanation on each stakeholder identified and explain why you would consider these to be major stakeholders using examples that are in the context of the article.
Question 3: Suppose these companies that are mentioned in the article all had loans with financial institutions. What possible suggestions/reasons could you provide as to why the lenders would not have been concerned about potential insolvency issues of their borrowers?
Question 4: Explain by way of personal reflection what you found to be the aspect of your research into the theories and other related issues in the article that had the biggest impact on your learning, something that you realised or now feel that you understand more clearly. For example, you may have thought about these issues before, you may have observed similar behaviour to the matter before and that was important to you; you may have related the issue to a current development in the world - current affairs, your employment or you have been personally affected. This section is not about providing recommendations. Marks will be deducted if recommendations are included.
Attachment:- Contemporary issues in Accounting theory.rar
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