Draft a business letter in reply for case ferengi ears ltd

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Reference no: EM133705105

Financial Reporting

Assessment Title - Statement of Advice

Assessment Type - Provision of advice on accounting issues

Task
Analyse client information using the information and questions raised by the CEO, and present the findings in a Statement of Advice with a covering Business Letter.

Assessment Description

Assume that you are part of a team of graduate accountants working for an independent consulting & accounting firm. The Manager of your firm has asked you to prepare a statement of advice in response to an email received from a client, raising accounting issues.

You should address all the technical issues/discussion in the statement of advice, followed by a Reference List.

For each issue, you are expected to:
Identify the facts and accounting topic
Apply the relevant legislation, accounting standard and/or process
Make a recommendation and/or summary of the correct accounting treatment.Your Task
You are required to prepare a business letter to answer key accounting issues in regard to an acquisition analysis of a wholly owned subsidiary and various inter-company transactions.

Part A: Technical component 20% - This mark covers the technical content of your advice and the explanation of each of the issues, the calculations and journal entries (where applicable).

Part B: Communication Skills 10% - This mark covers the generic skills of writing; layout, clear meaning, structure and organisation, appropriate tone and grammar, spelling, and punctuation throughout the whole assignment. It also includes referencing.

Case Study
Ferengi Ears Ltd, a publicly traded company listed on the ASX, is a global leader in the development, manufacturing, and commercialisation of implantable hearing solutions. With shares trading at $9.20 each on 1 July 2022, the company has invested consistently in research and development to enhance and expand their product portfolio. As a result, thousands of individuals worldwide now benefit from Ferengi Ears implants that significantly improve their quality of life and communication abilities. Under the leadership of our new CEO, Ferengi Ears Ltd has initiated a strategy of providing personalised solutions and comprehensive support to patients. This approach includes the acquisition of Precisi Medical Ltd, whose clinics assist in diagnosing patients' hearing requirements, ensuring optimal outcomes for those with hearing loss.

Ferengi Ears Ltd's incremental borrow rate stands at 9%, while the corporate tax rate is 30%.

Draft a business letter in reply and make sure you reference any relevant sources relating to your advice.

Reference no: EM133705105

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