Memorandum Of Advice - Report Writing - Law Assignment Help

Assignment Task:

Task:

Welome,
You must be the new accountant. I have just met with a new client, Janelle Smith. She runs her own consultancy business and is looking to expand. Janelle has had enough of running the business by herself and has come to us, seeking advice on ways she could potentially structure/ restructure her business.

Jacqui has been operating as a sole trader, providing tax management services for about 3 years. She has accrued a long list of loyal customers. Due to the disruption to the economy and widespread changed practices in people working from home, Janelle has been busier than ever as people seek advice about deductions, and looking to have their tax done by professionals.

Janelle herself currently works from her home, but wants to lease a small shop front on the high street, opposite the station – she expects that this will become busier as people return to offices in 2021. Further, she wants to engage in marketing and promoting her business, and needs to acquire more professional looking office furniture, and upgrade her computer systems.

Including the first year of lease payments, she estimates this will cost approximately $80,000. Further, she wants to hire staff to support her increased workload. Janelle mentioned she had attempted to borrow money to fund the endeavour but the local bank declined her application as she does not have enough security to secure the loan.

Required:
Please prepare a memorandum of advice for the client. Advise Janelle of the potential ways to structure her business, including the strengths and weaknesses of each option for her specific circumstances. Your advice should include a brief discussion of the strengths and weaknesses of each potential option, noting the specific needs and concerns for the client. You must consider her assets and liabilities when giving advice. Please set out a summary of advice, and remember to include specific recommendations on what Jacqui should do – as she is paying us for advice!
As this is a group submission from the team of new accountants, there is an expectation that every person participates and contributes to group work. The advice should consider the following:
? A suitable format and structure;
? Appropriate writing style, suitable for the client;
? Advice which is tailored to the client and not general in nature;
? Clear comparative analysis of three different business structures;
? The information is the work of your group, which represents our firm – and not copied from external sources; and
? That the memo provides clear advice in the form of a recommendation.

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