Explain the rationale behind each accounting standard

Reference no: EM133632149 , Length: word count:2000

Taxation Law

Assessment Type: Statement of Advice

Your Task
You must prepare a Statement of Advice (SoA) that addresses all the questions raised in a letter that will be made available to you at the start.

Assessment Description
Assume that you are a team of graduate tax accountants working for a registered tax firm. Your firm provides its clients with advice regarding tax issues, including applying the relevant cases and/or legislation in preparing tax returns. You must prepare a Statement of Advice (SoA) for your client(s).

The maximum length for the SoA is 1,500 words (+/- 10%) You should address all the technical issues in your advice, followed by a Reference List. Marks will be awarded based on two components:

Technical component 30% - This includes the technical discussion in your SoA, the explanation of each issue, and the sources used. You must analyse the information provided and recommend the correct accounting treatment. You must justify your recommendations by referencing specific paragraphs of relevant accounting standards. You must explain the rationale behind each accounting standard requirement.

Communication Skills (Writing Skills) component 10% - marks will be awarded based on your ability to gather information and effectively communicate strategies to the client as part of the SoA. It will also cover the generic skill of writing, clear meaning, structure and organisation, appropriate tone and grammar, spelling, and punctuation, etc., throughout the whole assignment.

Additional Requirements
You must include the following in your Statement of Advice (SoA):
Cover Page should include:
Name of your tax firm
The words "Statement of Advice"
Who the document is prepared by
Date
Table of Contents
Recommendations and explanations - include in-text referencing
Conclusion
Reference list

Attachment:- Taxation Law Case.rar

Reference no: EM133632149

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