Reference no: EM132846422

Accounting & Financial Management Assignment

Question 1 In relation to the Qantas Group Ltd you are required to address the following questions. (Note: you are to reference any supporting material you refer to in compiling answers to the questions)

1. Provide a brief discussion of what is meant by the term "corporate governance". In your opinion discuss whether Qantas exercises good corporate governance and list possible strengths (2) and weakness (2) of corporate governance at Qantas Ltd with clear reasons as to why you have identified them.

2. In terms of business sustainability performance discuss four principles that Qantas suggests are strengths of their company.

3. Do you think Qantas as a corporation is socially responsible? Justify your answer with three examples.

4. Research how the Qantas Group has addressed issues of sustainability and environmental management in its reporting practices. Identify the stakeholders that may be interested in these types of reports. Comment on the possible strengths and weaknesses of these reports as presented by Qantas.

5. Identify two recent events which have impacted on/or will impact on companies involved in the aviation industry. Discuss how these have affected the Qantas Group in the context of their triple bottom line. Where possible support your argument with at least 3 newspaper articles or other references.

Question 2

After reading the article attached as Appendix 1 answer the following questions:

1. There are two common approaches to ethics - the teleological approach and the deontological approach. Discuss the theories which underpin each approach.

2. What is the ethical dilemma which confronts the companies included in the article?

3. Select two companies from the following 4 companies mentioned in the article: Crown Resorts, Dominos Pizza, Tabcorp, Cochlear - one which you think is adopting the teleological approach and one which you think is adopting the deontological approach.

    1. Based on the approach the company has adopted what arguments would justify their decision re the repayment of money.

4. Discuss as per Table 2.1 in your text the relationship between ethical theories and economic theories. What economic theory is relevant to the 2 companies you chose and why?

5. Finally reflect on the two companies you have chosen. Do you agree or disagree with the stance they have taken from an ethical perspective?

Question 3

Kase Mechanical is retailer of motor parts and accessories. At the commencement of the period 1st July 20x1 the accounting equation for Kase Mechanical appeared as follows:

Accounting Equation for Kase Mechanical at 1st July, 20x1

Accounting Equation for Kase Mechanical at 1st July, 20x1
Bank	Accounts Receivable	Inventory	Prepaid Insurance	Motor Truck	Accounts Payable	Owners Equity
22600	8400	17500	1800	12500	10600	52200

a. In each of the following situations, identify whether the item should be included in the balance sheet of Kase Mechanical as at 31 December 20x1, and, if so, at what amount and under which classified heading e.g. Current Assets, Non Current Liabilities, etc. In all cases, brief reasons for your decision must be given.

b. Prepare a classified Balance Sheet at 31st December 20x1 incorporating your decisions in part a.

a. A freehold shop was bought in August 20x1 for $176,000. A mortgage of $160,000 was taken out to buy the shop in August 20x1 and the balance paid in cash
b. Goods on the shelves at the end of the day of 31 December 20x1 have a resale value of
$24,000 and were purchased from Transom for $16,000
c. A second Motor Truck, costing $12,000, ordered on 20 December 20x1 was delivered and paid for by cash on 12 January 20x2.
d. Shop fittings worth $6,000 were bought at an auction for only $3,000 cash prior to fit out the shop in August 20x1
e. A Ford Falcon costing $7,000 was bought by the owner through the business in November 20x1 for his wife's use. He did this because the Ford Falcon he had bought privately second hand in September for $8,000 was being used exclusively for collecting and delivering goods for the business and not as a family car, as originally intended
f. One cash register was rented from Equipment Supplies at an annual rental of $400 in August 20x1
g. One cash register was bought in November 20x1 for $1,200
h. A bank overdraft was drawn down for $13,000 on 31 December 20x1 to fund a feasibility study about expansion of the business.

i. Seat belts which the owner bought for $12,000 in September from a market trader in good faith were subsequently found to be defective and worthless.
j. A supplier's account was overpaid by $1400 in December 20x1.

Question 4 Refer to the 2020 financial reports for Crown Resorts

(Note there are other sites that will also provide you with this report if you type in Crown Resorts 2020 financial reports)

Answer the following questions using the consolidated or group financial reports of Crown Resorts and the notes to these reports for the year ended 30th June, 2020.
1. For each of the following stakeholders give an illustration of a note or a section of the report that would be of interest and useful for decision making purposes. State why the information is useful.
(ii) Suppliers to Crown Resorts Ltd
(iii) Customers
(iv) Prospective investors
(v) Australian Taxation Office

2. State the accounting equation in $ terms for Crown Resorts at the end of the financial year 2020.

3. What are the two largest sources of revenue for Crown Resorts in $ terms?

4. How is this revenue measured? And when is it recognised?

5. Did Crown Resorts make a profit or a loss in 2020 and what was the $ value?

6. What has shown the biggest decline in terms of operations revenue in 2020 and what information supports this. What implications (if any) has this for business going forward into 2021.

7. What is the biggest single expense item in $ terms for Crown Resorts in 2020?

8. Provide figures to indicate whether cash flow at the end of 2020 improved or declined from 2019 and why?

9. What is the largest non-current asset the company owns and state its opening and closing net book value?

10. What method of depreciation is used to write off property, plant and equipment?

11. Does Crown Resorts list any intangible assets? If so give one example.

12. List two current assets and two current liabilities of Crown Resorts (name and $ value). Explain why monitoring the ones you have chosen is important.

13. How much long term debt does Crown Resorts carry?

14. In terms of triple bottom line what information did Crown Resorts disclose about the social dimensions of their performance? What does this tell you about the entity?

15. Which accounting firm audited the financial statement and what opinion was issued?

16. After reading the reports of the CEO and any other reports in the media what issues are management concerned with going forward.

17. What factors would you as a prospective investor consider? Would you buy shares in Crown Resorts and why?

Attachment:- Financial Management Assignment.rar