ACCT6005: Company Accounting Video Presentation Assignment Help
Question
ACCT6005: In this assignment for Torrens University, Australia, the students pursuing Master of Professional Accounting are required to prepare a video presentation and a script to address specific accounting transactions. The assessment focuses on reviewing and correcting entries recorded by Steve Simms, the assistant accountant for Fernando Ltd corporate group, for the year ended 30 June 2022. Students must demonstrate their technical understanding and presentation skills by analyzing the transactions according to relevant Australian (International) accounting standards.
Solution
To provide Company Accounting Video Presentation Assignment Help, our experts conduct in-depth analysis and ensure compliance with accounting standards. Here’s an outline of how our experts have presented the review and correction of transactions:
Transaction 1 – Review
Fernando Ltd sold inventory to its subsidiary company on 1 July 2021 for $165,000. The inventory cost Fernando Ltd $135,000. The subsidiary plans to use this inventory as an item of plant, charging depreciation at a rate of 10% on cost. Our experts review Steve’s entries to identify any errors or omissions, a snippet of which you can read below:
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Transaction 1 – Correct Entry
Upon review, our experts found the corrections for the accounting data. This is related to the inventory transfer as well as the depreciation value, as mentioned below:
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Transaction 2 – Review
It has been remarked that Fernando Ltd sold inventory for $110,000 to its subsidiary on 30 April 2022. Fernando Ltd had paid $82,000 for this inventory. By 30 June 2022, 25% of this inventory was sold to external parties for $122,000. This section presents data retrieved by the review of Steve’s entries.
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Transaction 2 – Correct Entry
Our experts identified corrections are required based on the review of the second transaction done by our highly specialized Ph.D level Accounting experts. We have provided 50% of the complete slide here:
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