ACFI2421 - Business and Law - Accounting and Finance Assignment Help

Assignment Task

Question 1

Juno Plc has profit after tax of £1,750,000 for the year ended 31 December 2020. At 1 January 2020 Juno Plc’s issued share capital comprised of 300,000 £1 ordinary shares. On 1 June 2020 Juno Plc made a 1 for 6 rights issue at £2.30 per share. The market value of the shares just before the rights issue was £3.00 per share

You are required to:

Calculate basis EPS for Juno for the year ended 31 December 2020. Calculations should be done to the nearest whole number where applicable.

Question 2

In 1994 John Elkington coined the phrase “triple bottom line” when looking at sustainability reporting.

You are required to:

List the three (3) areas of accounting that are considered within triple bottom line accounting.

Question 3

Numerous academic theories have been developed to explain why accounting regulations and accounting policies are developed by organisations.

You are required to:

Explain what is meant by normative accounting theory.

Question 4

Positive accounting theory was explained by Watt and Zimmerman (1986) as being “designed to predict which firms will and which firms will not use a particular method”.

You are required to:

Explain three (3) criticisms of positive accounting theory.

Question 5

UK Listed companies are required to product interim financial statements for the first six months of a financial period.

You are required to:

a) Identify the two (2) different forms of financial reports that can be issued.

b) Explain why one format is preferred by IAS 34 Interim Financial Reportin

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