ACCM4200: Advanced Financial Accounting - Report Writing - Accounting and Finance Assignment Help

Assignment Task:

Your Task
• You are required to prepare a business letter to answer all of the following questions.
• You are also required to prepare a short video presentation (3 to 5 mins) summarising the issues you have addressed in your letter.

Assessment Description
Assume that you are a team of graduate accountants working for Pitcher Group Ltd, a public accounting firm Situated at 346 Gregory Avenue, Melbourne, VIC 3000. The Manager of your firm, Ms. Michelle Pitcher has asked you to draft a letter in response to an email received from a client – Mr. Andrew Dixon, the Managing Director of Dixon Ltd, raising several accounting issues – see the copy of the email on the next page.

The maximum length for the body of the letter is 1,000 words. You should address all the technical issues/discussion in the letter, followed by a Reference List.

• Part A: Technical component 10% - This mark covers the technical content of your advice and the explanation on each of the issues, the calculations, and the sources used.

• Part B: Communication Skills – Letter Writing 5% - This mark covers the generic skills of Letter writing; layout, clear meaning, structure and organisation, appropriate tone and grammar, spelling, and punctuation, etc. throughout the whole assignment.

• Part C: Communication Skills – Video Presentation 5% - You have to prepare a 3-5 minute video presentation that will keep the audience engaged; the presentation should be wellrehearsed and supplementary material, such as slides and visual aids must be of a professional standard.

Issue 1: At our recent board meeting, several directors raised concerns about spending too many man hours (and dollars I must say) on accounting for future tax consequences. Their biggest argument was that as long as the tax man is happy and we are not cheating on our tax returns, then we are simply wasting money in accounting for temporary differences and deferred tax assets (DTAs) and deferred tax liabilities (DTLs) (which I must admit is a mystery to me). Do you have any problems if we do not account for the DTAs and DTLs and just account for the current tax liability?

Issue 2: At our recent board meeting several directors raised concerns about an intangible asset relating to the brand name ‘Ezi Kleen’ which has been successfully developed by the business over the past years. The directors want to recognize $900,000 for this asset as at 30 June 2020, being a ‘directors’ valuation’. We also spent about $100,000 for branding research. Could you please provide advice on the correct presentation of such intangible assets?

Please respond by letter (not email) as I would like to present this to the Board. I look forward to hearing from you shortly. 

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