ACC2115: Company Accounting - Basis of Advice Report - Accounting and Finance Assignment Help

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Assignment Task:

Task:

The scenario
Imagine that you are a recent graduate working for an accounting practice. Your manager has asked you to conduct an analysis for a client (see the facts of the case study on the next page) and to prepare:
i) a ‘basis of advice report’, which includes
ii) a ‘draft letter of advice’
Your analysis will be reviewed by your manager before he/she finalises the ‘letter of advice’ for sign-off by a partner of the firm *. The ‘basis of advice report’ is an internal document of this accounting practice and is kept on the client record (some firms call them ‘working papers’).

Required:
1. Prepare a ‘basis for advice report’ for your manager in which you define the issues, identify and apply the requirements of accounting standards and relevant legislation (if applicable) to each issue, describe any other relevant factors that need to be considered and describe and justify the advice you suggest be given to the client.

 

2. Prepare a ‘draft letter of advice’ to the client to address each relevant issue. The letter of advice needs to explain the relevant requirements using non-technical language and describe any other relevant considerations and/or business advice.
The letter will be signed by a partner in the practice.
3. Prepare Appendix A – Reference list
4. Prepare Appendix B – ‘Sources of authority’ – see the details later

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