Need a technically strong accountant who is familiar with company accounting referring to
Australian Accounting Standards Board as part of this task.
Need to respond to an accounting scenario (made up scenario about a company which owns some land and assets which has been approached by another ASX listed company to potentially acquire it) and provide a basis of advice report (internal doc 700 words) and draft letter of advice (to client 700 words).
The first step in this process is to review the accounting treatment of its land assets.
Will need to review its accounting practices in relation to land and provide advice on using the revaluation method for all Land assets, with a view to boosting the value of total assets reported on the balance sheet. I expect you to define the issues and conduct an analysis in which you provide supporting evidence, by referencing the specific paragraphs of relevant accounting standards, the sections of relevant legislation (if applicable) and any other source of authority relied upon (textbook, articles, etc.).
Will also need you to provide a reference list as well as the ‘Sources of authority’, where you are required to provide an exact quote of each paragraph of an accounting standard or each section of legislation referred to in your report.
So just to clarify you are not exercising judgement in this task, but you are applying the
requirements of standards to provide preliminary advice.
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