Write a memorandum to the Board of Directors

Assignment Help Financial Accounting

Reference no: EM132623973

Part (A) - Write a memorandum to the Board of Directors (the members of the Board have varying degrees of accounting knowledge or understanding) as noted in the assignment details. The MEMO should be no more than 1000 words.

The selected company is NIB Holdings Limited.

Read the Annual Report including the financial statements of the Group and write a Memorandum to the Board of Directors clearly explaining some of the technical aspects of consolidation. Make sure you draw on the company's specific details to explain the intricacies of consolidation to the Board and as much as possible avoid answering in general terms.

Please make sure that your assignment is in a MEMO Format - A Report format will not be marked. The assignment must have at least 5 references.

Some of the aspects that you need to cover in your assignment are (but not restricted to):

1. Why did the parent entity have to prepare consolidated financial statements when the subsidiary company is a separate legal entity in its own right?

2. Does the published set of group financial statements reveal the company's policy on corporate governance, Audit committees, Sustainability, Solvency? Does it reveal these issues and if so where and why?

3. Has there been any goodwill on the acquisition? Or any gain on bargain purchase? Where would you find it in the financial statements and what does it mean? Any impairment?

4. Any other relevant matter that you may wish the Board of Directors to make note of in respect of some transaction or event, the balance of account or disclosure that will assist them in understanding the financial statements of the group.

Reference no: EM132623973

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