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Question - Your business is conducting analysis of its taxable income for the 2015/16 financial year. The company is classes as a small business entity, with annual turnover below $5 million dollars and 10 full-time employees.
1) What level of company tax is your business required to pay in 2015/16?
2) If the company purchases an asset for $6 million in 2015, and 6 months later sells the asset for $7 million in 2016, what tax will the company be required to pay?
3) Explain why a large credit union is generally considered a more tax effective operating entity than a medium credit union?
4) What elements of Australian Consumer Law (ACL) do we need to be aware of when conducting trading relations between your business and consumers?
Financial Statement Analysis and Preparation
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An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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