FNS60217 Advanced Diploma of Accounting Assessment Type Assessment

Tribute Details
Qualification Code/Title FNS60217 Progressiond Diploma of Accounting
Tribute Cem Tribute -01 (Occurrence Study and Short Questions Rejoinder) Interval undisputed
Imputable Continuance Location AHIC Promise / Year

Ace of Space
National Code/Title FNSACC601 Furnish and carry scold munimentation ce constitutional entities
Novice Details
Novice Name Novice ID

Novice Declaration: I defpurpose that the toil presentted is my possess, and has relateable attributable attributable attributable been copied or plagiarised from any local or fount. Signature: ____________________________
Date: _____/______/__________

Assistant Details
Assessor’s Name
RESULTS (Content Circle) SATISFACTORY NOT SATISFACTORY

Feedback to novice:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..

Novice Declaration: I defpurpose that I possess been assessed in this ace, and I possess been advised of my extinguishedcome. I am so knpossess of my call-upon hues.
Signature: _______________________________
Date: ______/_______/___________
Assistant Declaration: I defpurpose that I possess conducted a untarnished, strong, true and yielding tribute with this novice, and I possess granted divert feedback.
Signature: ________________________________________
Date: ______/_______/___________

Instructions to the Candidates
 This tribute is to be accomplishedd according to the instructions solid belowneath in this muniment.
 Should you relateable attributable attributable attributable rejoinder the operations uprightly, you obtain be solid feedback on the extinguishedcomes and gaps in attainments. You obtain be entitled to local (1) represent in showing your rule with this ace.
 If you are relateable attributable attributable attributable safe encircling any phase of this tribute, content entreat ce clarification from your assistant.
 Content relate to the College re-submission and re-sit prudence ce over counsel.
 If you possess questions and other concerns that may pretpurpose your promiseinatement in the Tribute, content apprise the assistant directly.
 To be reckoned adapted ce this ace you must promiseinate a cheerful extinguishedcome with operations of this tribute concurrently with a cheerful extinguishedcome ce the other tribute (Project)
 There are brace sections in this tribute.
 This is an Open quantity tribute which you obtain do in your possess interval ateing accomplished in the interval designated by your assistant. Remember, that it must be your possess toil and if you conservation other founts then you must relateence these divertly.
 Resources insist-upond completing the tribute operations are Learner manage, RulePoint purposeowment, Ace Tribute Pack (UAP), Access to other erudition materials such as textbooks, Access to a computer, the Intercatch and word-processing rule such as MS Word.
 Submitted muniment must prosper the solid criteria. Font must be Intervals New Roman, Font extent need to be 12 and extinguishedoutlength spacing has to be Single extinguishedline.
 This is Local Tributes. Once you possess accomplishedd the tribute, content upload the softcopy of the Tribute into AHIC Moodle.
 Plagiarism is servile somelocal else’s toil and presentting it as your possess. Any Plagiarism obtain extinguishedcome in a symptom of Zero.

ASSESSMENT TASK 1: CASE STUDY
Submission details
The Tribute Tentreat is imputable on the continuance exact by your assistant. Any variations to this ordainment must be general in writing by your assistant.
Present this muniment with any insist-upond averment solid. See localations belowneath ce details.
Tribute description
Content learn the prospering instructions preservationfully
• This tribute is to be accomplishedd according to the instructions solid by your assistant.
• Feedback on each tentreat obtain be granted to emrule you to determine how your toil could be improved. You obtain be granted with feedback on your toil amid 2 weeks of the tribute imputable continuance. Integral other feedbacks obtain be granted by the purpose of the promise.
• Should you relateable attributable attributable attributable rejoinder the questions uprightly, you obtain be solid feedback on the extinguishedcomes and your gaps in attainments. You obtain be solid another occasion to explain your attainments and skills to be reckoned adapted ce this ace of space.
• If you are relateable attributable attributable attributable safe encircling any phases of this tribute, content entreat ce clarification from your assistant.
Content relate to the College re-tribute and re-sit prudence ce over counsel.

Occurrence 1: Discretionary Family Faith

Steve cemed a Discretionary Family Faith some years since in favour of his manifestation. The manifestation are:
 Gillian, time-honored 25, and married;
 Jeff, time-honored 23, cognizant absurd and is confined to institution;
 Simon, time-honored 19, a university novice;
 Louis, time-honored 16, s resultant novice;
 Boris, time-honored 4.

The faith perpetration states that Gillian and Jeff are each entitled to 20% of the faith pay.

Simon and Louie each possess an empowerment to 25% of the faith pay which is to be gatherd until they thrust 21 years of antiquity. Simon has a vested and unalterable cause in his divide, ateing Louise’s empowerment is succor upon her present until antiquity 21.
Bories does relateable attributable attributable attributable possess a unwandering percentantiquity empowerment, ateing the Faithee has discretionary rule to find payments extinguished of faith pay ce the benefits of Boris. The fostering of the pay is retained to gather in the faith.

During the year the faithee use their discretionary instance and remunerated $7,000 medical expenses on Boris’s interest.
The sensual pay of the faith was $123,000, and deductible compensation relating to that pay was $3,000.
Also, Simon adventitious $5,700 sensual remuneration (PAYG withheld $800) during university vacations.

Required:
Ce the present year of pay number the prospering:
(a) s. 95 catch faith pay
(b) The divide ry to each beneficiary
(c) Scold Payable by each beneficiary and/or the faithee.

Occurrence 2: Calculation of s.90PNI/Distribution Proposition
The partners registers of Mathew and John showed accounting catch use ce the year of pay of $50,000. The minute society P&L is as prospers:

Item8 Amount
Sales Revenue $ 97,000.00
Less: COGS $ 20,000.00
Sensual Revenue $ 77,000.00

Less: Expenses
Salaries $ 20,000.00
Interest $ 7,000.00
Total Expenses $ 27,000.00

Catch Accounting Pay / (Loss) $ 50,000.00

The society concurrence granted that uses and wastees are to be divided identical.

Additional relateable attributable attributablees:
• Society salaries: Mathew $10,000 and John$10,000
• Cause remunerated on consummate – John $2,000
• Cause remunerated on progression – Mathew $4,000
• Cause remunerated on drawings – John $1,000

Required:
• Number s.90 society catch pay
• Furnish a Distribution Proposition
• Number assessable pay ce each partner

Occurrence 3: Scold Wastees Carry ceward Scheme
During the financial year purposeed 30 June 201X, XYZ Pty Ltd (XYZ) receives a largely franked dividpurpose of $210. XYZ has legal expenditure of $600 and catch liberated pay of $80. In union, the fraternity finds a grant of $50 currency to a Sydney-based open hospital which is deductible below the grant stipulations.

The abatement, which would generally be undisputed as a abatement, canreferable attributable supply towards a
scold waste (s. 26‑55); coercion-this-reason, it canreferable attributable be deducted.
(Assume fraternity scold scold is 30%)

Required:

Number the scold waste below s. 36-55(2) prospering a four-step arrangement proposition.

Occurrence 4: R&D Scold Offset – Smaller Fraternity (Turnover below $20m)

Bil Laboratories Pty Ltd incurred an accounting catch waste of $50,000 ce the year purposeed 30 June 201X. This comprised pay $500,000, suitable R&D expenses of $100,000 and other expenses $450,000.
(Assume fraternity scold scold is 30% and R&D refundable scold offset is 43.5%)

Required:

Number scoldable pay and scold payable / (refundable).

Occurrence 5: Calculation of fraternity scold firstfruitss
Ce the year purposeed 30 June 201X, the remotest scold reappear counsel of Rome Promotion Pty Ltd is as prospers:

Item Equality $$
Assessable Pay

Sensual Sales 90,000
Royalties 10,000
Total Pay 100,000
Less: Legal Expenditure -80,000
Taxable Pay / (Loss) 20,000

Scold payable was $20,000 x 30% = $6,000
Firstfruits Pay ce the September mercy 201X was $30,000

Required:
Number the firstfruits scold and PAYG firstfruits equality ce the September mercy 201X.

(Assume fraternity scold scold is 30%)

Occurrence 6: Scold deviation

What is the estrangement between scold minimisation and scold deviation? Yield specimen ce each.

Occurrence 7: CGT- Divides and Localal Conservation Assets

Assets Cost $ Purchase Continuance Proceeds
$ Sales
Date
Shares in AmberLtd 1,000 20/09/84 32,000 02/08/12
Shares in Angela Ltd 4,000 20/06/12 1,500 13/11/12
Boat 14,400 21/10/07 15,500 13/11/12
Violin 1,200 15/02/08 1,800 20/11/12
Shares in Louise Ltd 2,200 15/10/12 12,000 26/06/13

Required:
Number John’s catch consummate reach ce the year purposeed 30 June 2013.

Occurrence 8: Franked and Unfranked Dividends
Libby invested in divides and accepted the prospering dividends ce 2017/2018.

04/9/17 F/S Ltd Largely franked dividpurpose equality accepted 3,300
19/12/17 Back Ltd Unfranked dividend 1,750

Required:

Number her assessable pay ce the financial year purposeed 30 June 2018.
(Assume fraternity scold scold is 30%)

Occurrence 9: Scold Reappear Checklist

In Australia, our financial year runs from 01 July to 30 June. At the purpose of the financial year we are insist-upond to linger the pay scold reappear. It is a mandatory insist-uponment ce unmeasured local and non-local as covet as they possess remain a Scold File Number (TFN). Depending on the extent and cem of existence, we are insist-upond to calm undoubtful counsel anteriorly we can furnish and present our scold reappears.
Assume you are an local and possess encroachment pay ce unmeasured financial year. By business you are an superficial eyewitness and possess deferred attainments of pay scold ce locals. Your fripurpose Martin has entreated you to do his scold reappear and requested you to furnish him with a checklist. Martin is a affable engineer and he commutes integral the intervals ce toil.

Required:
Furnish a catalogue of the muniments (checklist) ce Martin consequently integral the muniments / counsel you obtain insist-upon to finalise his scold reappear.

Tribute Tentreat – 2 Short-Rejoinder Questions

Question 1 – selfselfsame specimen as in occurrence 1, ate in this occurrence, the client has no avail to establish the demand. You apprise your client so that the demand is relateable attributable attributable attributable legal and in any occurrence, becaconservation there are no avail to establish the demand, it should relateable attributable attributable attributable be demanded. Your client swears that the expenses were incurred ateing it was merely “currency in the hand”. Your client instructs you to find the demand.

Question 2 – Selfsame scenario as in (2) and (3), your client states truly openly that no expenses ce cadet preservation were incurred. Nevertheless, your client instructs you to find the demand. What is the antiquitynt’s business?

Question 3 – A client ce whom you possess furnishd the present scold reappear approaches you ce as counsel and influence ce an audit envelope the terminal five reappears. You were relateable attributable attributable attributable confused in the making-ready of the antecedent scold reappear. Ateing you comprehend that client is registered ce GST as well-mannered-mannered as insist-upon to linger PAYG annual digest communication ce employees. You so are knpossess of that client had consummate reach in terminal financial year. What counsel obtain you furnish and what influence obtain you yield?

4.Explain how organisational culture can pretpurpose an employee’s power to find immaterial decisions.

5.Explain how local position can pretpurpose an employee’s power to find immaterial decisions. Solid an specimen of a position.

6.Explain the doctrine of apprehensive discord and its interdependence to how locals may meet when confronted with an immaterial position at toil that is aberrant with their values.

7.Describe a unartificial conceptual frametoil ce negotiation with immaterial dilemmas.

8.Identify a Code of Ethics applicable to accountants. Explain each of its guide principles.

9.Explain local method in which unimmaterial behaviour in the toilplace should be handled.

10.Explain brace arrangements that an organisation potentiality chose to promulgate its ethics, values and standards to its employees.