Write a report to the chief finance officer

Assignment Help Accounting Basics

Reference no: EM131063451

You are a manager at an audit company. You are currently auditing XYZ Ltd. XYZ Ltd currently has a number of material operating leases reported in the 2015 financial statements.

Write a report to the chief finance officer (CFO) and chief executive officer (CEO) of XYZ Ltd coveting the following:

a. Outline the main differences between the old and new lensing standard relevant to XYZ Ltd's accounting statements.
b. Outline the key effects of XYZ Ltd implementing the new leasing standard on the income statement, hal arn.v sheet, statement of cash flows and key financial ratios.
c. Outline the theoretical benefits and problems of the new standard compared to the old standard for Australian companies.
Please upload your word document to LMS by 3pm on Monday 23 May 2016. Please use 12lank 1.5 line spacing and 2.5 cm margins on all sides.

Please state the word menu at the beginning ofrhe assignment.
Reference all material mken from other senora.
Within the above marking schedule:
• 60% of the marks relate to content.
• 5% for report fOrmat,
• 30% for clarity of your communication of the answers.
• 5% for appropriate referencing.

Reference no: EM131063451

Questions Cloud

Does this align with the current nonmarket environment : In recent years, we have seen a more relaxed development, introduction, and enforcement of regulations for business in many industries. Why is this happening? Does this align with the current nonmarket environment? Utilize current research in supp..

What is a convertible bond and why is it a hybrid security : Brent crude prices are currently much lower than that, at about $US69. Analyse Santos' short term liquidity based on 2013 and 2014 financial figures. What is a convertible bond and why is it a hybrid security

Proposed project requires an initial cash outlay : A proposed project requires an initial cash outlay of $849,000 for equipment and an additional cash outlay of $48,500 in year 1 to cover operating costs. During years 2 through 4, the project will generate cash inflows of $354,000 a year. What is the..

Effective project manager possess : What qualities does an effective project manager possess? What two qualities do you feel are the most important? Explain why.

Write a report to the chief finance officer : You are a manager at an audit company. You are currently auditing XYZ Ltd. XYZ Ltd currently has a number of material operating leases reported in the 2015 financial statements.

Trying to determine its cost of debt : Advance, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 16 years to maturity that is quoted at 106 percent of face value. The issue makes semiannual payments and has a coupon rate of 6 percent annually. What..

Prepare a tabular analysis of the transactions : Prepare a tabular analysis of the transactions using the following column headings: Cash, Account receivable, Office Supplies, Land, Account payable, Linda capital and Retained earnings.

Project management-the managerial process : In the written lecture, it is stated, "To grow within the organization, one should be open to working on projects." Why do you believe this is vital, and consider what it might mean in your current work environment?

Take the firm to recover its initial investment in project : EKG, Inc. is considering a new project that will require an initial cash investment of $398,000. The project will produce no cash flows for the first two years. The projected cash flows for years 3 through 7 are $79,000, $88,000, $102,000, $140,000, ..

User Account

All Pages