ACCT209 Corporate Accounting|CSR

ACCT209 Corporate Accounting|CSR
This assessment task requires students to evaluate various case studies.
Case study 1 Fiji Ltd
On 15 July 2019 Fiji Ltd acquired 70% of the issued shares of Guan Ltd, enough to give Fiji Ltd control. On 28 May 2020, Fiji Ltd acquires a further 5%. On the same day, Guan Ltd acquired 60% of the issued shares of Vanuatu Ltd, enough to give Guan Ltd control. On 24 April 2021, Fiji Ltd sells 40% of the issued shares in Guan Ltd and loses control.
1. Prepare a report explaining the accounting treatment of the changes in the ownership at different point in time according to AASB 10 / IFRS 10. [10 marks]
2. Evaluate when Fiji Ltd needs to prepare separate financial statements and what to be disclosed in these statements according to AASB 127 / IAS 27. [10 marks]
Case Study 2 CSR Ltd
Obtain a copy CSR Limited’s 2019 annual report .
3. Explain what disclosures are required by AASB 101/ IAS 1 regarding accounting policies, changes in accounting estimates and errors AASB 108 / IAS 8.
[10 marks]
4. According to the accounting policy disclosures listed in 2019 CSR Limited Annual Report, analyse CSR’s accounting policies with respect to
a. compliance
b. currency
c. depreciation
d. rounding
[10 marks]
5. Advise CSR Limited of the disclosures, if any, for the change in accounting policy in future.
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